Backdoor Listing, page-29

The current offer was made to all those who held at 28th august so not restricted to institutional investors. Nearly every spp i have seen surges massively before and just after ann of spp them once they have there shares they manage their exit. The big issue here is for crowd coming in the backdoor they may end up only having 2.4b shares worth 1/2cent or 12m. That doesn mean they have $12m. Then for them to raise capital to expand into the apps based arena competing with well every fifteen year old that has an apple developers acct they would be raising at or under 1/2cent or they as I said rerate the shares by 10 making the sp 5c on 250m shares cap raise at 3-4c but then all of you will lose more as it drops to that new level after that cr is done.

Crowd could have just as easily gone from private to limited 500 share holders raised capital to expand that way and it wouldnt have cost much to do and they would have retained equally as much control etc. question you have to ask is why they didnt do that and chose a back door listing! Most likely because they werent confident of finding 500 savy investors willing to give them any money and needed to find some shell with mum and dad investors who dont know any better.

Maybe if you are apple there is blue sky but given Apple Pay being linked to a pay wave antenna incorporated into the iphone 6 and above along with ios etc etc i see many of these mobile payment companies may have a very short life expectancy as they are fighting against far larger companies with a very solid track record and plenty of product in the pipeline.

The company is on a field where there is little or no barrier to entey meaning anyone can do what they do and probably cheaper or better!

Of course i will put IMO and DYOR