No-one is going to take over this company apart from an administrator. It's overcommitted on long term market licenses, underperforming marketing deals and sponsorships and bloated with overheads..
The remaining cash in the bank will be exhausted given the commitments they have signed up for. The clock's ticking and PBH are running out of time before there is no more cash, their only chance of a time extension is a highly dilutive capital raising...
The only way to succeed in the US is to be one of the top 3 players in the market, and whilst PBH have set their sights on 10% market share which is flawed from the outset, the reality is that they are at 3.7% and going backwards every day. Furthermore, comparisons of PBH to fluctuations in the share price of the big players like Draftkings is nothing short of comical.
How many people have actually looked at the growth trajectories of Fanduel (42% market share) and Draftkings (24% market share), and BetMGM (15% market share) and wondered why they are so vastly different to PBH?
$3 PARTY, page-181
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Last
47.0¢ |
Change
0.005(1.08%) |
Mkt cap ! $154.4M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.5¢ | 46.5¢ | $238.0K | 506.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 69664 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 7499 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PBH (ASX) Chart |