IkeGPS shares halted for institutional placement

Sun, 07 Aug 2016

By Jonathan Underhill Aug. 8 (BusinessDesk) - IkeGPS, the laser measurement tool maker that expects to be cash break-even in the fourth quarter of 2017,is in a trading halt pending a placement of shares to institutional investors in Australia and New Zealand. The company had operating cash outflows for the year ended March 31 of about $9.9 million and a cash balance at March 31 of $5.3 million, down from $10 million at Sept. 30 last year, suggesting it will have burned through all its cash at that pace by the end of the September this yea...

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