Just some ramblings that may be poorly connected ,but food for thought nonetheless.
# SMA is gradually maturing...More focused.
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# 2 distinct businesses:
1) Logisics...Reliable revenue generation....Probably profitable as a stand alone business..... limited growth prospects (could be wrong there)....Does underpin the growing China operation.
2) SmartPay....Seems to find its feet.....Capable of exponential growth....8 months growth equates to 25% CAGR for 10 years.....This is awesome growth by anyone's standard.
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# During the last 12 months ( Dec'13 to Dec'14) ,SMA increased its NTA ( purely cash/receivables/payables....No hairy fairy intangibles or capitalized expenses) by around $1.9m (from -ve $216Ks to +ve $1.67m)....This is after $2.8m share issue (after costs)....There is "a loss of value" of $900ks....Very respectable for a business in its growth phase that is not self funded yet & still relies on "external funding"....This loss of value did not only go to pay for corporate overheads (a listed outfit needs a minimum of $1-2m just for corporate overheads)....To my simple mind , SMA has actually created value.
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# Momentum has completely disappeared from the sector over the last 12 months.
Surprisingly SMA is the outright leader of the pack...."only" down 20%.....MBE ,NNW , MKB ,SMP are remarkably similar....All down exactly 40% over the trailing 12 months.....Never underestimate outperformers.
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Last
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $27.06M |
Open | High | Low | Value | Volume |
15.0¢ | 16.0¢ | 15.0¢ | $1.187K | 7.488K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 60282 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.5¢ | 22198 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 60282 | 0.150 |
1 | 347 | 0.145 |
1 | 2000 | 0.130 |
1 | 37000 | 0.125 |
1 | 8000 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 22198 | 1 |
0.205 | 9447 | 1 |
0.210 | 50000 | 1 |
0.220 | 16153 | 1 |
0.225 | 2300 | 1 |
Last trade - 14.31pm 02/08/2024 (20 minute delay) ? |
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