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- Family Zone (FZO) enters a trading halt pending an upcoming capital raising and material acquisition
- The company will remain in the halt until the earlier of August 6 or when a further announcement is made
- In the June quarter, Family Zone revealed it had burnt through $5.75 million with the majority going towards staff costs
- The company ended the quarter with $35.59 million in total available funding, representing 6.38 quarters of use
- Shares in Family Zone have been trading at 60 cents since July 30
Family Zone (FZO) has entered a trading halt pending an upcoming capital raising and material acquisition.
The company will remain in the halt until the earlier of August 6 or when a further announcement is made.
Family Zone is yet to disclose how much it intends to raise or who it will be acquiring.
In early July, Family Zone received a European patent for its device management system.
Family Zone’s platform allows adults to manage screen time, track devices, limit social media and gaming, and shield children from potential online risks.
It also allows adults to tap into advice from child psychologists, educators and law enforcement professionals.
In the June quarter, Family Zone revealed it had burnt through $5.75 million with the majority going towards staff costs.
The company also invested $847,000 in property, plant and equipment.
Family Zone ended the quarter with $35.59 million in total available funding, representing 6.38 quarters of use if spending levels remain the same.
Shares in Family Zone have been trading at 60 cents since July 30. The company has a $261.8 million market cap.
