StockMarketWire.com - Clean water technology group HaloSource said Monday no additional funds had been raised to date and confirmed that it would seek alternative strategic options.

The company said it was managing its working capital position closely, but warned that it would have to begin insolvency proceedings if it were unable to raise additional funds.

'If the company is not able to complete a fundraising prior to the Company exhausting its cash resources the Board will have no choice but to initiate insolvency proceedings,' Halosource said.

The company said it had achieved all stated goals since the close of the first phase of the financing in September, when the company raised $2m, which was expected to fund its operations to cash flow break even.

The company received NSF 53 certification for its astrea ONE bottle, launched both the astrea product and filter replacement subscription service online, and placed the product for sale on Amazon, and began selling the product nationwide in the US at its first retail customer, Sur La Table.


At 9:40am: [LON:HAL] HaloSource share price was 0p at 1.3p



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