DomaCom Australia Limited
(ASX:DCL) has announced it is in the process of negotiating several 2 and 3 year Convertible Note issues that will raise up to $3 million in cash for the company.
The fractional property investor has indicated it has agreements for $1.7 million currently in progress.
The business will announce a significant cost reduction program during January, the extent of which will be determined by the total raised via Convertible Notes.
The business also expects to bank up to $800K over the next 7 months in research and development rebates from the ATO.
Shares in DomaCom Australia Limited
(ASX:DCL) are trading 4.76 per cent lower at $0.10.
