- DroneShield (DRO) has requested back-to-back trading halts regarding an upcoming capital raising
- The company’s shares will remain in the halt until August 7 or when the announcement is made, whichever occurs first
- Throughout July, the drone detection company secured two contracts, one with the U.S. Air Force and one with the European Ministry of Defence
- Additionally, DroneShield ended the June quarter with a record cash inflow of $2.1 million, while operational cash burn totalled $50,000
- Shares in DroneShield last traded for 15 cents on July 31
DroneShield (DRO) has requested back-to-back trading halts regarding an upcoming capital raising.
The company’s shares will remain in the halt until August 7 or when the announcement is made, whichever occurs first.
DroneShield has had a busy July, securing its first contract from the U.S. Air Force, one from the European Ministry of Defence, and successfully completing a European airport trial for DroneSentinel.
Additionally, DroneShield ended the June quarter with a record cash inflow of $2.1 million, while operational cash burn totalled $50,000, compared to the almost $1.8 million in the March quarter.
DroneShield last entered a trading halt in July 2019 in regards to a $9.55 million placement.
A few days later, the company launched its drone detection product, RfZero, which allows drones to be detected in real-time in a one-kilometre radius.
Shares in DroneShield last traded for 15 cents on July 31.