- AML3D (AL3) has entered a trading halt this morning ahead of a capital raise
- It is unknown how much the company plans to raise and where the funds will go
- Company shares will be paused until Monday, October 5, or when AML3D releases more details on the raise
- Over the 2020 financial year, the company made $288,516 in revenue and paid around $2.6 million to supplier and employees
- AML3D finished FY20 with cash and cash equivalents totalling over $8.23 million, which is a massive jump on 2019’s $1.16 million in reserves
- AML3D last traded for 51 cents per share on September 30
AML3D (AL3) has entered a trading halt ahead of a capital raise.
So far, the company has not given any details about how much it plans to raise and where the funds will go.
Company shares will be paused until Monday, October 5, or when it releases more details on the raise.
AML3D commercialises wire additive manufacturing (WAM), which is an emerging innovative metal additive manufacturing technology.
For the 2020 financial year, the company made $288,516 in revenue, which is higher than last year’s $36,057. However, it also paid around $2.6 million to supplier and employees.
At the end of the 2020 financial year, A3D tabled a $3.09 million loss, a significant increase on the previous year’s $680,836 loss.
AML3D finished the financial year with cash and cash equivalents totalling over $8.23 million, which is a massive jump from 2019’s $1.16 million in reserves.
Last month, the company signed a contract with ASX-200 lister Austal (ASB).
Under the contract, AML3D will design a personnel lifting device for manufacture using its WAM technology. This lifting device is intended to be installed on-board naval vessels constructed by Austal.
AML3D last traded for 51 cents per share on September 30.