Just warning you that this company has some serious baggage, so much so I’d say it’s chances of any new deals this side of the Tasman are close to zilch.
I know that relying entirely of the companies releases one might miss much of the baggage. For anyone contemplating putting serious money into this company I would suggest a little reading of the NBR (NZ equivalent of the AFR), nbr.co.nz and searching “powerhouse ventures”. There’s a heap of articles since the IPO which lend an entirely different slant on things.
Involvement with Ferranova predated Yardley. Even if it is wildly successful what’s to say Yardley wont flog it off the pay the overheads once he can sell the stake for a couple of million, and where are the new deals to come from? They have no credentials in seeding companies in Australia, and their credibility in NZ is such as they are never likely imo to again do so here. I am struggling to see what Yardley has done to justify the even much reduced overheads?
Notable imo is major investors that did not participate in the CR earlier this year.
Need to tread with caution here.
EL
PVL Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
