IoT wearables - now officially the cheapest IoT play on the ASX
Market Cap circa $12m, Cash circa $7m, Share price 2.5c
not my favourite IoT play, although at these levels I must say AWO is quite cheap. Market seems to be annoyed at how long the listing took, and also somewhat oblivious to the fact that there was a 2 to 1 consolidation , meaning that at 2.6c of AWO today is equivalent to 1.3c of AWO pre relist (it barely went that low when it was trading as a shell!)
also cash cash cash, AWO raised $5m via placement at 3.2c (a 27% premium to market price and 1.6c of old pre consolidated AWO), and now has a total of over $7m in cash
happy with their distribution channels for something this small...
cash is king for an IoT play in this part of its growth cycle, and AWO is not short of it at all - having around 60%+ of its market cap in cash.
I think that this will have a G8C type run when people wake up to the fact that it had been consolidated and trading dirt cheap. I do not think it is as polished as G8C however it has an extremely lower EV right now as well as almost double the cash of G8C.
