Very surprising. I thought this company was trading close to cash flow positive and it has $3million in the bank.
From a pessimistic perspective the raising could he due to ARR not flowing into revenue. However, I tend to favour Zhanginu's explanation. The company will use the money to expand the sales and marketing team.
The markets for snare and emite are so hot at the moment it would be a wasted opportunity not to raise capital now to get a bigger market share.
Ann: Trading Halt, page-11
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