Way2Vat (ASX:W2V) enters trading halt – The Market Herald

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  • On Monday, Way2Vat (W2V) suspended its commercial activities in view of an upcoming fundraiser
  • So far, it’s unclear how much the company aims to raise or where the funds will be used.
  • The company’s shares will be suspended until Wednesday, June 8 or when a new announcement regarding the increase is published on the market.
  • W2V is an Israel-based technology company that provides a fully automated end-to-end value added tax recovery solution.
  • W2V shares last traded at 5.9 cents on June 6

On Monday, Way2Vat (W2V) suspended its commercial activities for an upcoming fundraiser.

The market does not know how much the company aims to raise or where the funds will be used.

The halt means the company’s shares will be suspended until Wednesday, June 8 or when a new announcement about the increase is released to the market.

W2V is an Israel-based technology company that provides a fully automated end-to-end value added tax recovery solution.

Earlier this year, the company partnered with Railsbank to launch the world’s first Smart Spend Debit Mastercard, which fully automates VAT/GST reporting.

The card allows businesses to submit expense receipts and enter invoices through its proprietary technology platform.

W2V said this new technology is an end-to-end process, from receipt capture to payment, that automatically analyzes, reconciles, sorts and submits documentation to foreign tax authorities.

This means employees can spend their allocated amounts and VAT/GST is automatically submitted with all relevant administration completed.

In the market, W2V shares last traded at 5.9 cents on June 6.

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