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The latest announcement is out from My Rewards International Limited ( (AU:MRI) ).
Klevo Rewards Limited has issued a Supplementary Prospectus to amend its previous prospectus and provide additional disclosures. The company is addressing its financial condition, which led to the suspension of its securities from the ASX, by implementing a sustainable financial strategy. This includes cost reduction, revenue diversification, and a capital raise through an Entitlement Offer and Debt Conversion. The company aims to improve gross margins and operational costs, with anticipated revenue growth supported by increased customer cash receipts and successful client onboarding following the Fly Wallet Acquisition.
More about My Rewards International Limited
Klevo Rewards Limited, formerly known as My Rewards International Limited, operates in the loyalty and rewards industry. The company focuses on providing B2B loyalty solutions, the Klevo Rewards Card, and Frankly Marketing Services, with a strategy that includes revenue diversification and international growth plans.
Average Trading Volume: 20,000
Technical Sentiment Signal: Sell
Learn more about MRI stock on TipRanks’ Stock Analysis page.