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- Beam Communications (BCC) has entered two consecutive trading halts while it considers, plans, and executes a capital raise
- The company will remain in the halts until October 14 or when an announcement is made, whichever occurs first
- On September 30, Beam announced that its Iridium GO! device had reached 50,000 manufactured units
- Iridium GO! is a compact and portable device that supports global calling, SMS, email, social networking, SOS alerts, and tracking capabilities
- In its annual report, Beam tabled $14.92 million in revenue, a slight decrease from the $17.77 million recorded in FY19
- Further, the company had $4.2 million total available funding as of June 30
- Shares in Beam last traded for 31 cents on October 7
Beam Communications (BCC) has entered two consecutive trading halts while it considers, plans, and executes a capital raise.
The company will remain in the halts until October 14 or when an announcement is made, whichever occurs first.
On September 30, Beam announced its Iridium GO! device had reached 50,000 manufactured units after receiving its eighth order from Iridium Communications.
Iridium GO! is a compact and portable device that supports global calling, SMS, email, social networking, SOS alerts, and tracking capabilities.
It is powered by the world’s furthest-reaching network and can work wherever the user is — whether it be land or sea, off or on the grid.
In its latest annual report, Beam tabled $14,923,300 in revenue for the year ending June 30 2020, a slight decrease from the $17,776,666 recorded in FY19.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $3 million, an increase from the $2.1 million in FY19.
Further, Beam had $4.2 million available in total available funding by June 30.
Shares in Beam last traded for 31 cents on October 7.
