Auckland wi-fi company Tomizone restructures debt but is yet to complete crucial capital raise

Fri, 01 Apr 2016

By Fiona Rotherham April 1 (BusinessDesk) - Tomizone, the loss-making wi-fi company, said it has refinanced term debt after some company directors and executives made personal loans, but the moves are conditional on attracting a further A$2.3 million in new investment. Late last year the Auckland-based company said it needed to raise A$4 million under an offer of convertible notes following a back-door listing on the ASX in June. The offer was approved by shareholders at the annual meeting in November but has taken a lot longer to comp...

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