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  • Payment software developer Integrated Payment Technologies (IP1) has entered a trading halt ahead of an upcoming capital raise
  • Currently, there are no details on how much the company is aiming to raise or where the funds will be spent
  • Company shares will be paused until Thursday, February 25, or when more information about the raise is released to the market
  • Just recently, the company completed the purchase of Comply Path
  • On the market, IP1 last traded at 4.5 cents on February 23

Integrated Payment Technologies (IP1) has entered a trading halt as it plans an upcoming capital raise.

So far, there are no details on how much the company is aiming to raise or where the funds will be spent.

Under the halt, company shares will be paused until Thursday, February 25, or when more information about the raise is released to the market.

IP1 is an Australian based company that aims to simplify the way data and payments are issued.

Last month, the company completed the purchase of Comply Path, a company that helps businesses with their regulatory compliance and provides numerous other data management services.

Originally, Comply Path and IP1 were potential collaboration partners, however, the companies soon realised how similar the businesses are and began discussing a buyout. A day after the company completed the purchase, IP1 was granted an Australian payments patent.

“The Australian payments patent is a significant milestone to facilitate the delivery of a transformative platform to repurpose quality data for employee financial wellbeing,” the company said last month.

For the December quarter, IP1 net was used in operating activities was $370,000 and at the end of the period had $1 million in cash and cash equivalents.

On the market, IP1 last traded at 4.5 cents on February 23.

IP1 by the numbers
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