He has been asked to prepare a business plan of 100 pages which has been announced to the market in 3 pages. His business plan does not cover financing the proposed business, nor has the board supported him or shareholders by mentioning where the money will come from. If they wanted to raise $50 mil now, they would need to issue 5 billion shares and $50 mil would get them SFA toward the sort of money they would need to begin operating a BNPL business in the US, where the competition is intense and the big boys lose bucket loads every year.
His reputation and career are on the line, he is not being paid sheep stations and most of the work he is being paid for is piece work - pumping out business plans. The bloke who appointed him and went overseas with him resigned and baled immediately. If it turned out there is something rotten in this business he would know by now and he would be mighty displeased.
That interview was 14 November and IMO things may have changed dramatically.
OVT Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)