16th Mar 2020 10:39
(Alliance News) - Shares in Big Sofa Technologies Group PLC were on Monday suspended from trading on London's AIM market as the company said that it may sell the business.
The video analytics firm said it had been in the process of finalising a planned equity raise to fund the next stage of growth. However, the fundraising plans could not conclude due to market turbulence.
Big Sofa noted that that it has sufficient working capital until May and is currently exploring strategic options which may include a sale of the business.
For the first half of 2019, the company posted loss of GBP1.1 million and revenue of GBP1.1 million.
Big Sofa's stock was last quoted at 2.55 pence.
By Ife Taiwo; [email protected]
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