viewK2fly Ltd

K2fly in trading halt ahead of capital raising

The company sells its own software (RCubed and Infoscope), resells third party’s software, and provides experienced consultants to clients using the software.

K2fly Ltd - K2fly in trading halt ahead of capital raising
Shares last traded at 17 cents before being halted

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.

K2fly recently signed a contract with leading gold producer Newcrest Mining (ASX:NCM) to implement its RCubed Resource Governance Software as a Service solution (SaaS).

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.

Quick facts: K2fly Ltd

Price: 0.23 AUD

Market: ASX
Market Cap: $19 m

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