Correct or incorrect - almost doesn't matter.
Peers in the consumer staples on the ASX are currently trading at 1 x revenue which are already established and market leaders.
Unless CCO is making $10mill PA - its overpriced in my opinion.
Market cap should be $3-4mill. There is no reason to be trading at a premium, especially taking into account the companies track record to date.
The 'top holders' know this, thus why there wasn't a cap raise and why they didnt buy shares, instead a moving target (to their benefit) convertible note.
The 'sophisticated' investors wouldn't have a bar of it at the current prices - thus the kick the can down the road for a raise.
Over and out
Ann: November Sales rise more than 35% to $300k., page-9
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Last
1.0¢ |
Change
0.001(11.1%) |
Mkt cap ! $19.81M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.0¢ | 0.9¢ | $150.5K | 15.34M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6280000 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 4693929 | 6 |
View Market Depth
| Last trade - 15.22pm 12/09/2024 (20 minute delay) ? |
| CCO (ASX) Chart |