- Global Energy Ventures (GEV) has called a two-day trading halt as it gets ready to tap investors for some fresh capital
- The shipping company has not yet revealed how much it plans to raise of for what it will use the funds, but shares are currently in a halt until Wednesay
- The news of the capital raise may have taken some investors by surprise given GEV's cash positive at the end of December 2020
- With over $2.1 million in the bank after going cashflow-negative by just $300,000 over the quarter, GEV had enough funding to last almost two years at current spending levels
- As such, whether this week's planned capital raise is a simple balance sheet-booster or if something bigger is brewing is unsure
- Shares in GEV last traded for 12 cents each of Friday, February 12
"The news of the capital raise may have taken some investors by surprise given GEV's cash positive at the end of December 2020" I certainly wasn't expecting it.
