- I Synergy Group (IS3) commences the week in a trading halt as it plans a capital raise
- There is currently no details on how much the company is aiming to raise, however, the company did hint of an upcoming capital raise
- Company shares will be paused until Thursday, January 27, or when further details about the raise is released to the market
- Synergy is one of the region’s leading affiliate marketing network and solutions provider
- On the market, I Synergy last traded at 4.5 cents per share
I Synergy Group (IS3) has commenced the week in a trading halt as it plans an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise however, IS3 did hint of an upcoming acquisition.
Under the halt, company shares will be paused until Thursday, January 27, or when further details about the raise are released to the market.
I Synergy is one of the region’s leading affiliate marketing network and solutions provider. The company connects advertisers with affiliates via its affiliate marketing platform.
For the half-year ending June 30, 2021, revenue dropped 70.14 per cent to just over $1 million, compared to the previous half-year.
The decline in revenue is mainly due to the COVID-19 global pandemic, which has impacted the core business income stream of software activation.
At the end of the period, I Synergy ended the period with $2.4 million in cash and cash equivalents.
On the market, I Synergy last traded at 4.5 cents per share.