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- Advertising agency Engage:BDR (EN1) will soon tap investors for more cash, as it gears up to raise more capital
- The company placed its shares in a trading halt until Monday, September 27, to give it time to execute the proposed fundraise
- EN1 ended the half-year with $1.54 million in the bank, having spent $170,000 on operating activities during the period
- The company bought in revenue worth $7.74 million between January and June, giving it a loss after tax of $2.33 million
- EN1 shares last traded at 0.5 cents each on Wednesday, September 22
Advertising agency Engage:BDR (EN1) will soon tap investors for more cash, as it gears up to raise more capital.
The company placed its shares in a trading halt on Thursday, with the halt to last until Monday, September 27.
Today’s proposed fundraise comes after Engage ended the half-year with cash of $1.54 million in the bank.
That’s slightly down on the $1.7 million EN1 had at the start of 2021, with the company spending $170,000 on operating activities during 1H21.
The business bought in revenue worth $7.74 million between January and June, giving it a gross profit of $2.48 million.
EN1’s loss after tax totalled $2.33 million, net assets of $7.4 million and liabilities totalling $7.3 million.
At the time the results were released, Engage:BDR CEO Ted Dhanik said he was pleased with the company’s revenue performance given the impact of COVID-19.
Before today’s trading halt, EN1 shares had been trading at 0.5 cents per share on Wednesday, September 22.
