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Why these popular tech shares are in trading halts today

A number of small-cap tech shares have been pushing higher today, but two which are not joining them are listed below.

Here’s why they have requested trading halts today:

Family Zone Cyber Safety Ltd (ASX: FZO)

This growing cyber safety company has requested a trading halt pending an announcement in relation to a proposed capital raising. No further details have been provided by the company, but it appears that it could be for working capital. As of the end of the last quarter, the company had approximately $3.8 million in cash and cash equivalents and had forecast cash outflows of $2.8 million.

Updater Inc (ASX: UPD)

This US-based relocation technology company’s shares have been placed in a trading halt ahead of an announcement regarding material results from its pilot program testing. The company has undertaken a number of pilots this year, the most recent being its DIY Moving Vertical. Updater also has pilots with US-giant AT&T and recently started to sell business products to users of its popular platform. An announcement is expected to be made no later than December 6.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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