Logo contributed ~$20mil in revenue from 1 Feb to 30 June 2020 but they have given them only a 50% chance of hitting the First Revenue Target of $26.8mil by 31 Dec 2020 and no chance of hitting the Second Revenue Target of $32.1mil.
So they've booked between 70% and 100% of their revenue in the first 5 month period. Seems odd.. I guess the 35% revenue coming from a single customer must have paid up front?
For a company that had $100mil in cash and have barely made a dint in the American market and won't last another year without further dilution on top of a 7 to 1 consolidation in the move to a different exchange, it's a huge worry. No wonder there was such a huge drop in the SP.
I wouldn't be blaming the ASX, no need to look further than current management IMO.
If this business had a even a slightly good outlook it'd be taking off like a rocket. It's unfathomable that in a world where online shopping and deliveries have gone through the roof that a company in this space can have such a risky outlook.
GSW Price at posting:
49.0¢ Sentiment: None Disclosure: Not Held
