- Telecom stock Mobilicom (MOB) has entered a trading halt while it plans a capital raise
- Mobilicom provides cybersecurity and smart solutions for drones, robotics and autonomous platforms in various sectors
- At the end of last quarter, the company had $2 million in cash and expected to have less than five quarters of funding left
- However, Mobilicom plans to focus on its market strategy to target new and existing companies
- The trading halt will remain in place until Thursday, May 6, at the latest
- Company shares last traded at 6.4 cents on April 30
Mobilicom (MOB) has entered a trading halt while it plans a capital raise.
At this stage, it isn’t clear how much the telecom stock will raise or what it will use the money for. But the trading halt will only remain in place until Thursday, May 6, at the latest.
Mobilicom provides cybersecurity and smart solutions for drones, robotics and autonomous platforms. It does so through two business units with one targeting the government and enterprises sector and the other targets the commercial and industrial sector.
However, given the rapidly growing global market expected to develop in the next few years, Mobilicom plans to focus its attention on the global drones, robotics and autonomous platforms sector.
“Our go to market strategy will see Mobilicom target existing and new customers selling drone/robotics platforms into market segments and verticals including mining, security and surveillance, infrastructure inspection, delivery, defence and first responders,” CEO Oren Elkayam said in a recent investor presentation.
Specifically, the company aims to integrate its smart components into a customer’s platform, generate significant sales and licensing revenue, increase revenue by upselling additional components, and ensure a strong market position by providing high performance and security to customers.
At the end of last quarter, Mobilicom had $2 million in cash and expected to have another 4.9 quarters of funding left.
Company shares last traded at 6.4 cents on April 30.