During the quarter, the Company cancelled its planned
capital raising of A$7 million, due to sooner than expected revenues from Syntonic’s business (including Syntonic’s distribution and license agreement with Tata Communications and Freeway by Syntonic’s service launch in Southeast Asia) and accelerated sales pipeline opportunities with globaltier-1 mobile carriers and major content providers seeking to expand their audience reach with sponsored data. With the sooner than expected revenues from Syntonic and Pacific’s existing cash reserves, Syntonic will have sufficient funding for its business expansion plans.
Lead the way, Mr Greenbaum. My confidence in PSF heading to greener pastures is solidified. No longer a chance, but a certainty.
SYT Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
