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Carbeeza Inc ( (TSE:AUTO) ) has provided an update.
Carbeeza Inc. announced a non-brokered private placement of up to 10,000,000 common shares at $0.05 per share, aiming to raise $500,000. The proceeds will be used for working capital and general corporate purposes. The offering is subject to TSX Venture Exchange approval and includes a statutory hold period for the shares. This move is expected to support Carbeeza’s operational needs and potentially strengthen its position in the automotive software market.
Spark’s Take on TSE:AUTO Stock
According to Spark, TipRanks’ AI Analyst, TSE:AUTO is a Underperform.
Carbeeza Inc’s stock is significantly impacted by its dire financial situation, marked by insolvency risks and lack of revenue. Weak technical indicators and a negative valuation further contribute to a low overall score, underscoring the urgent need for financial turnaround strategies.
To see Spark’s full report on TSE:AUTO stock, click here.
More about Carbeeza Inc
Carbeeza Inc. is a Canadian-based software company focused on the automotive marketplace. It offers a platform that uses Artificial Intelligence to predict optimal financing scenarios for consumers while maintaining their anonymity. The platform facilitates the car buying process via mobile devices, benefiting both consumers and auto dealers.
Average Trading Volume: 24,319
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$5.94M
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.