Yup you are right companies to raise millions off no revenue and other companies including the ones mention do have a higher burn rate.
However there is a lot more that goes into a valuation compared to just revenue... I can provide you examples of companies making millions of dollars in revenue and up 36% YOY for the last 12 months and yet their SP is about 1/3 and they had a positive qtr too.
Like I have mentioned before the businesses being compared different - yes they are in gaming in some sorts two are not actually developing the game and ICI is. Hence it isn't a good indication on what 'value' is.
Ann: Appendix 4C - quarterly, page-25
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Last
2.1¢ |
Change
-0.001(4.55%) |
Mkt cap ! $28.16M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.2¢ | 2.1¢ | $7.597K | 354.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 907690 | 2.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.2¢ | 195000 | 3 |
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| ICI (ASX) Chart |