Nuheara Limited (ASX: NUH) had come forward and made an announcement about IQstore™. The company had issued a press release which was published on the Australian Securities Exchange or ASX.
As per the release dated January 9, 2019, the company had rolled out IQstore™ which happens to be the hearing services application which is based on the subscription. The process of launching the same has been done at Consumer Electronic Show (or CES). With the help of the company’s IQstore™, the customers would be able to select the supporting features which happen to be crucial for them.
The issued release of Nuheara Limited had also stated that, from the very inception, the company had been strengthening the position and the company had maintained its focus towards giving the affordable as well as accessible solutions related to the hearing. We would now be understanding the viewpoints of the management of the company in brief. The top management of Nuheara had stated that the company’s team has been aggressively working for the target of giving the solutions related to hearing which would be accessible from the home of the customer. They also stated that IQstore™ would support the company in terms of the revenues and it also makes sure that the company would be with its customers across hearing journey’s life.
We would now be taking a look at the company’s news related to the capital raising. Not so long ago, the company had made an announcement that it had wrapped the oversubscribed $5 million raising of the capital which was made to the sophisticated as well as institutional investors. This $5 million capital raise happens to the before the costs.
The press release in which the company had given the information related to this also had the information about the areas towards which the plans to utilize the funds. The company had stated that the raised capital would support the company in terms of the market as well as sales activities related to IQbuds BOOST™. However, the capital raising program would also support the company in raising the levels of IQbuds BOOST™’s inventory and it would also help Nuheara Limited in developing as well as manufacturing new products. These new products which have been referred also include IQbuds MAX as well as IQstream TV.
Moreover, earlier, the company had given the information that it had received $1,940,741.19 as a cash rebate. This rebate has been given to the company by Australian Tax Office and it had been granted for the R&D (or Research and Development) activities.
Now, let us see how the stock of Nuheara had performed today. The stock Nuheara Limited had ended the session in green, and the stock price closed at A$0.076 per share which implies the rise of A$0.001 per share or 1.333%. The market capitalization of Nuheara Limited stood at ~$72.05 million. In the time span of previous three months and six months, the stock had delivered the return of -10.71% and -21.88%, respectively.