Content streaming company has halted trading of shares “pending the release of an announcement.”The trading halt begins today, and will be in place until Friday 4th July or earlier if a public statement is made.
Quickflix is said to have requested the trading halt pending a capital raising.
The Perth-based company appeared to have gained momentum, of late, after a period of tumult amid a funding crisis and content issues.
Recently, Quickflix signed major deals with Google Chromecast, Apple TV, Dick Smith, and secured content from Lionsgate, nabbing several big name TV shows and movies, in the process.
However, last month investors were still squabbling about the future direction of the company, proposing to get rid of current management team and its mail order DVD business, although was subsequently rejected by shareholders at an extraordinary general meeting.
Quickflix (QFX) share price still remains low, closing at $0.010 yesterday at the close of trade.