04/11/2008 - 16:59

Capital Intelligence in trading halt

04/11/2008 - 16:59

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Shares in Subiaco-based Capital Intelligence Ltd have been locked in a trading halt as it seeks to resolve funding issues and restructure its operations.

Capital Intelligence in trading halt

Shares in Subiaco-based Capital Intelligence Ltd have been locked in a trading halt as it seeks to resolve funding issues and restructure its operations.

The financial services company first entered into a trading halt yesterday, with its share price last trading at 3.8 cents.

In July the company announced a $2 million capital raising through a share placement, however only managed to raise $664,465 after costs.

In its annual report, the stock said the volatility in the markets has had a negative impact on its core education business of HomeTrader Pty Ltd, which provides clients with a contract for difference (CFD) trading platform.

"Customer acquisition costs have been significantly higher and new memberships have declined; resulting in lower revenues against a fixed cost base," the company said in its annual report.

Last month the company said it was currently in discussions with a third party regarding a joint venture for its broking operations and had also launched a share purchase plan to raise equity, with the closing date scheduled for the end of last month.

In its September quarterly report, the company said it had $439,506 in the bank.

 

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