Join our daily newsletter At The Bell to receive exclusive market insights
- Traffic Technologies (TTI) enters a trading halt while it plans and executes a capital raise
- The traffic and transport technology company spent $920,000 on investing activities, $633,000 on financing activities and a further $486,000 on operating activities in the September quarter
- It ended the period with $1.54 million in cash but didn’t disclose how many quarters of estimated funding it has left
- It isn’t clear how much TTI will raise or how it will spend the money but these details will be revealed by November 3
- Company shares last traded at 3.2 cents on October 29
Traffic Technologies (TTI) has entered a trading halt while it plans and executes a capital raise.
Traffic Technologies develops and manufactures reliable and cost effective traffic and transport control systems in Australian and internationally.
The company hasn’t disclosed how much it intends to raise or how it will spend the money, but these details should be released by November 3.
TTI recently announced its quarterly activities and financial position for the September quarter which outlined net operating cash outflows of $486,000.
The company increased operating revenue by 8 per cent year-on-year to $13.5 million with recent orders including orders for LED street lights from TasNetworks and Ausgrid and an order for the supply and installation of electronic signs from the Department of Transport in Victoria.
A further $920,000 was spent on investing activities and a further $633,000 on financing activities during the September quarter.
At the end of the quarter, Traffic Technologies had about $1.54 million in cash.
Company shares last traded at 3.2 cents on Friday, October 29.
