ShareRoot Ltd (ASX:SRO) has news of a material capital raising and corporate transaction pending and has been granted a trading halt by the ASX.
The halt will remain in place until the start of normal ASX trading on Friday, November 16, 2018, or when the announcement is released, whichever occurs earliest.
ShareRoot’s shares last traded at 0.4 cents before the trading halt.
READ: ShareRoot increases the Social Science takings amid MediaConsent interest
The consumer data security provider is aiming to grow revenue and reduce spending in the coming year.
It has started to bring in revenues from the emerging MediaConsent authorisation platform, its Social Science marketing agency pick-up and the UGCDiscovery legal rights platform.
ShareRoot acknowledged at its October 30, 2018, annual general meeting (AGM) the strengths of these three revenue-generating income streams.
READ: ShareRoot’s MediaConsent platform to be utilised in clinical setting for brain research
MediaConsent is a GDPR and internationally-compliant consumer preference and consent manager that can also be used as an identity and access management tool for companies.
The platform was beta-launched with the national agency Zig Marketing and game and app developer Ludomade on September 27, 2018.
Social media marketing agency, the Social Science (TSS), co-founded by Michelle Gallaher, specialises in compliant social media campaigns for public sector agencies and organisations in the science, technology, engineering, and mathematics space.
UGCDiscovery is a legal rights platform that includes Johnson & Johnson (NYSE:JNJ), Costco Wholesale Corporation (NASDAQ:COST) and Singapore Tourism Board as clients.
The company is expecting the 2018-19 financial year to be a “transformative” year as revenues climb and cash burn is reduced.