- Software company archTIS (AR9) enters a mid-week trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until November 12 or when more details are released, whichever occurs first
- On November 2, archTIS began trading in the United States on the OTCQB with the ticker code ARHLF
- The OTCQB is the middle tier for over-the-counter stocks and it consists of mainly early-stage and international companies
- Shares in archTIS last traded at 26.5 cents on November 9
Software company archTIS (AR9) has entered a mid-week trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until November 12 or when more details are released, whichever occurs first.
archTIS is yet to disclose how much it intends to raise or what it will use the funds for once received.
On November 2, archTIS began trading in the United States on the OTCQB with the ticker code ARHLF.
The OTCQB is the middle tier for over-the-counter (OTC) stocks and it consists of mainly early-stage and international companies.
Trading on the OTCQB helps companies build shareholder value and achieve liquidity.
In its Septemberly quarterly, archTIS revealed it had burnt through nearly $3.37 million with the majority going towards staff costs.
The company also invested $1.42 million in intellectual property and its property, plant and equipment.
As of September 30, archTIS had just over $8.06 million in total available funding, representing 2.4 quarters of use if spending levels remain the same.
Shares in archTIS last traded at 26.5 cents on November 9. The company has a $61.92 million market cap.