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- Optiscan Imaging (OIL) has entered back-to-back trading halts ahead of a capital raise announcement
- Optiscan Imaging is a microscopic imaging company that develops technologies for medical, translational and pre-clinical applications
- In FY20, the company brought in nearly $1.2 million in revenue which marks a slight increase from the $1.04 million in FY19
- However, the company ended FY20 with a significantly lower cash balance of roughly $526,000, compared to $1.75 million at the end of FY19
- At the end of last month, Optiscan shed light on its focus to build sales in China and expand opportunities across North America and Asia
- Company shares last traded for 10.5 cents on September 18
Optiscan Imaging (OIL) has entered back-to-back trading halts ahead of a capital raise announcement.
The company will remain in a trading halt until the earlier commencement of trading on Friday, September 25, unless the capital raise is announced earlier.
Optiscan Imaging is a microscopic imaging company that develops technologies for medical, translational and pre-clinical applications.
Over the course of the 2020 financial year, Optiscan Imaging brought in nearly $1.2 million in revenue from sales, system rentals and the provision of services. This marks a slight increase from the $1.04 million in FY19.
However at the end of FY20, Optiscan had just over $500,000 in cash and cash equivalents, as opposed to $1.75 million at the end of FY19.
At the end of August, the company detailed its focus on building sales in China and developing sales and distribution opportunities in North America and Asia.
Whether or not the upcoming capital raise will support these opportunities is not yet certain.
Company shares last traded for 10.5 cents on September 18.
