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- Secure payment business iSignthis is among others taking the stage at the third annual Goldman Sachs Tech Day today
- The company provided to shareholders and investors an update on its third quarter performance during the presentation
- Most impressively, cash receipts for the company are up 38.5 per cent on the quarter at just over $8 million
- However, the company was forced in a trading suspension by the ASX earlier this month, with shares still idling at $1.07 each
Australian secure payment business iSignthis is taking the stage today, at Goldman Sachs’ third annual tech day.
In a bid to drum up investor interest, the company will give an update on its third quarter performance to the audience in its presentation.
Most impressively, the company’s cash receipts are currently up 38.5 per cent from last quarter, achieving $8.326 million.
Cash flow for the company is also poised at a healthy rate, sitting comfortably at $1.067 million. iSignthis also said today it’s aiming for a $10.7 million earnings before taxation performance for the end of the calendar year.
Investors impressed with these numbers will have to show some patience however, as the company was forced into a suspension in trading by the Australian Securities Exchange (ASX) earlier this month.
The suspension came at the time of suspicion from the Australian Securities and Investments Commission (ASIC). ASIC was showing concerns over iSignthis’ price movement inquiries.
At the time, the ASX published this statement below.
“In consultation with the Australian Securities and Investments Commission (‘ASIC’) and having regard to the recent volatility in its share price, ASX has determined that it is appropriate to suspend trading in the shares of iSignthis Ltd (‘ISX’) with immediate effect under Listing Rule 17.3, pending the outcome of enquiries to be made by ASIC and ASX into a number of issues concerning ISX.”
iSignthis investor LHC was quick to bat back at the suspension, questioning the need for it.
“We do not yet understand why there was a need to place ISX into suspension,” LHC said in a statement.
“We question why the ASX cannot ‘front-end load’ its questions to expedite its investigations.”
Since its suspension in trading, shares in iSignthis have since idled at $1.07 in a $1.169 billion market cap.
