Lifespot Health pressed the pause button on ASX

Lifespot Health Limited’s stock went into trading halt today. In an announcement to ASX, health care group Lifespot Health requested ASX to grant trading halt pending an announcement in relation to an acquisition. Subsequently, the securities of Lifespot Health Limited (ASX: LSH) were placed in trading halt on 14 September 2018.

Lately, company has been showing interest in cannabis sector but has not actually derived any revenue from the green herb. But with this pause in trading pending the acquisition announcement, the company is suspected to go into cannabis vertical integration. 

Well, in the recent release of half yearly results the company posted 106.2% growth in revenues to $307,150 for the period ended 30 June 2018. However, the group continued to report losses but this time it shrunk 20.7% to $1,066,568. No dividend was declared or paid for the period.

The trading halt will remain in place until the earlier of 18 September 2018 or the release of the acquisition announcement as stated above.

The stock of the company last traded at $0.081 on 14 September 2018 after slipping 6.897% on 13 September 2018. The stock has seen the performance change of -42.14% over the past one year.

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