Jayride Group (ASX:JAY) was suspended from the Australian Securities Exchange (ASX) pending demonstration of financial stability, according to a Friday Australian bourse filing.

The company remains fully operational and financially liquid, with key investors committed to a capital initiative to strengthen the company's balance sheet and meet ASX reinstatement requirements, per the filing.

The company is progressing its operations with successful software as a service launches in Thailand's limousine and peer-to-peer car-sharing sectors, the filing said.

The company is working with the ASX and advisers to fulfill reinstatement requirements while diligently managing its obligations and executing its business plan to resume trading promptly, the filing added.