- Family Zone Cyber Safety (FZO) is gearing up to raise more capital after placing its shares in a trading halt
- FZO’s securities will remain halted from trade until an announcement is released, or until Friday, June 25 at the latest
- The company reported having $20.4 million worth of cash on hand at the end of the March quarter
- It also reported a recurring revenue amount of $12 million, with 1.96 million students signed on to its programs
- Company shares last traded at 59 cents per share on Tuesday, June 22
Family Zone Cyber Safety (FZO) is gearing up to raise more capital after placing its shares in a trading halt.
FZO’s securities will remain halted from trade until an announcement around the fundraise is released, or until Friday, June 25 at the latest.
In terms of finances, the company reported having $20.4 million worth of cash on hand at the end of the March quarter.
FZO spent $5.23 million on operating activities during the same period, with the majority of those funds going towards staff costs and research and development.
If that rate of spending stays the same, the business estimated it had enough cash to keep going for another 3.9 quarters of growth.
Meanwhile, Family Zone also reported $12 million in recurring revenue at the end of March, with 1.96 million students signed on to its programs.
By the start of June, FZO said it had signed on more than 3600 schools to its cyber safety program.
Company shares were trading at 59 cents each before today’s trading halt came into effect, on Tuesday, June 22.