Join our daily newsletter At The Bell to receive exclusive market insights
- AppsVillage (APV) has entered a trading halt ahead of a “material” capital raising
- Yesterday, the app-building specialist received conditional approval to dual list on the Toronto Stock Exchange (TSXV)
- AppsVillage had just over $1 million in cash at the end of last quarter and only 1.6 estimated quarters left of funding
- In the same report, the tech stock said it will raise more capital and move forward with its sales growth and a profitability plan
- Although, it isn’t quite clear what the money will be used for
- The trading halt will remain in place until no later than Tuesday, March 2
- Company shares last traded at 10.5 cents on Thursday, February 25
AppsVillage (APV) has entered a trading halt ahead of a “material” capital raising.
It’s not clear how much AppsVillage wants to raise or what it will use the money for, but the market will find out by no later than Tuesday, March 2.
AppsVillage provides software-as-a-service solutions for small-to-medium business so they can create and manage their own app, grow their business and connect with customers.
Yesterday, the company received conditional approval for dual listing on the Toronto Stock Exchange (TSXV).
Founder and CEO, Max Bluvband, said a dual listing on the TSXV will hopefully increase investor awareness and share liquidity while it implements its growth strategy.
AppsVillage announced it had roughly $1.05 million in cash at the end of the December quarter, giving it an estimated 1.6 quarters left of available funding.
In its response to whether its cash position will improve, AppsVillage said it expects to raise additional capital and progress sales growth and a profitability plan.
Company shares last traded at 10.5 cents on Thursday, February 25.
