- Pet services solutions company Mad Paws (MPA) begins the week in a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until February 23 or when the announcement is released, whichever occurs first
- In its December quarterly, the company reported operating revenue of $2 million, up 199 per cent from the prior corresponding period
- As of December 31, Mad Paws had a cash balance of $8.9 million with the company stating it would help fund its growth strategy for the second half of the financial year
- Shares in Mad Paws last traded at 20 cents on February 15
Pet services solutions company Mad Paws (MPA) has begun the week in a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until February 23 or when the announcement is released, whichever occurs first.
Mad Paws is yet to disclose how much it intends to raise or what it will use the funds for once received.
In its December quarterly, the company reported operating revenue of $2 million, up 199 per cent from the prior corresponding period.
Bookings and transactions increased by 81 per cent from the prior quarter while there are now over 133,000 paying pet customers and over 30,000 pet sitters on the platform.
Mad Paws also revealed it had burnt through $3.88 million in product manufacturing and operating costs, and $1.6 million in staff costs.
The company invested $248,000 in its business, intellectual property and its property, plant and equipment.
As of December 31, Mad Paws had a cash balance of $8.9 million with the company stating it would help fund its growth strategy for the second half of the financial year.
Shares in Mad Paws last traded at 20 cents on February 15. The company has a $44.17 million market cap.