Hi, my read of the IPO is that the majority (circa 73%) of the shares are to be issued to existing owners / directors and these are to be held in escrow (not able to be traded) for 24 mths. I see this as a positive in that the original investors have skin in the game and are locked in, it will likely mean that the stock will be thinly traded. The issue looks like they are just trying to raise the minimum to get listed on the ASX which is an easier path than some other exchanges. I like the concept and the team seem committed, are generating some revenue and have met some regulatory hurdles. My concerns are the existing liabilities and whilst they are revenue making they are running at a loss (as expected for this stage) so they will burn through cash particularly with high administration costs.
Overall, after weighing up the above I am participating as the presentation and concept I believe has the edge to generate the hype required for a successful IPO...a hype stock with a decent product, committed team and reasonable prospects for growth.
IMO.
OSX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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