Looks like revenue last year was over $4m and costs were only $130k for March quarter. If they can keep revenue around the same levels as last year then this business could be profitable pretty quickly.
I get the negative that it was in administration but you’ve got to ask yourself why private equity is lining up to buy virgin if it’s in administration. Maybe there’s something more to it??
A major positive is they’ve got some pretty massive clients. Look at the JXT website. Now NVOI has a bunch of top tier clients - up sell opportunity??
I’m not discounting anything until I see if the directors take up their portion of the capital raise. If they don’t = bad. If they do then I think there is something more to this that we may not be seeing.
On the point about loss making businesses, Afterpay and zip still lose money. If you want EPS go and buy bank shares.
NVO Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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