Join our daily newsletter At The Bell to receive exclusive market insights
- Software company Reffind (RFN) has entered a trading halt ahead of a capital raise
- The company’s shares will be back to trading on Wednesday, or when it releases more details on the raise
- Last week, Reffind dropped its licencing agreement with InterBio to focus on developing its WooBoard employee rewards platform
- Reffind last traded on the market for 0.2 cents per share on July 17
Software company Reffind (RFN) has entered a trading halt ahead of a capital raise
The company will come out of the trading halt on Wednesday or when it releases more details about the raise.
Last week, Reffind dropped its licencing agreement with identity management and biometric software solutions company, International Biometrics (InterBio), to focus on its WooBoard software platform.
Both companies signed the agreement just two months ago, but it came to an end on mutual terms last Friday.
WooBoard is an employee rewards platform which aims to boost engagement in the workplace. In turn, Reffind believes employees who feel seen and heard are more likely to go the extra mile — and even improve a company’s profitability.
Over the past three months, the company has seen its average monthly customer sign-ups rise to 72, which is a 179 per cent increase on the three months prior.
Reffind last traded on the market for 0.2 cents per share on July 17.
