K2fly Limited (ASX:K2F) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.
Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading on Wednesday 18 September 2019.
With implementation costs, the 3-year SaaS-based software contract is worth more than A$150,000 in the first year with initial total contract value being in excess of A$330,000.
Growing a SaaS business
K2fly is a technology company focused on building a high margin SaaS business based in Perth and Johannesburg.
The company generates revenue through SaaS contracts with customers for its two software solutions, RCubed and Infoscope.
K2fly also generates revenue by reselling third party’s software and providing consulting services to its clients.