LONDON (Alliance News) - MySQUAR Ltd said Monday it has requested suspension of trading in its shares on the AIM market in order to clarify its financial position.
The company also said that it has withdrawn the application to trading the 171.4 million shares issued through a placing at the end of October.
Currently, the entertainment and payments platform provider's cash balances are very low, and due to the inability to draw down on a USD1 million facility from Rising Dragon Singapore Pte Ltd, there is material uncertainty regarding its working capital position.
The company is currently investigating the matters and expects to make further announcements.
