- Simble Solutions (SIS) enters a mid-week trading halt pending the release of a capital raising announcement
- The software company will remain in the halt until the earlier of March 18 or when the announcement is released
- In its unaudited preliminary final report for the 2021 financial year, Simble tabled a 10 per cent decrease in total revenue from $1.76 million to $1.97 million
- However, the company’s SimbleSense revenue was up 12 per cent to $869,000 while UK sales were up 15 per cent to $568,000
- Shares in Simble last traded at 2.5 cents on March 14
Simble Solutions (SIS) has entered a mid-week trading halt pending the release of a capital raising announcement.
The software company will remain in the halt until the earlier of March 18 or when the announcement is released.
Simble is yet to disclose how much it intends to raise or what it will use the funds for once received.
In its unaudited preliminary final report for the 2021 financial year, Simble tabled a 10 per cent decrease in total revenue from $1.76 million to $1.97 million.
The company also reported a loss of $1.16 million, a seven per cent improvement on the prior year.
In positive news though, Simble’s SimbleSense revenue was up 12 per cent to $869,000 while UK sales were up 15 per cent to $568,000 and Australia sales were in line with the previous period of $952,000.
Simble last tapped investors for cash in July 2021 when it undertook a $1.63 million placement.
A total of 66.2 million fully-paid ordinary shares were issued to professional and sophisticated investors at 2.5 cents.
Subject to shareholder approval, participants also received one free attaching option for every two shares subscribed for, exercisable at four cents with a three-year expiry.
Simble stated the primary use of the funds will be to accelerate its growth and expansion strategy in Australia and the United Kingdom via increasing business development capabilities and securing additional channels to market.
Shares in Simble last traded at 2.5 cents on March 14. The company has an $8.51 million market cap.