Finally a contender Lets take this apart one step at a time
OK you say "Generating 800k profit per annum." Where did you get that figure . IPO document says $654,603 before tax and you would have to take that profit with a bag of salt not just a pinch
50% of JSB was acquired from HGL for 3 million shares in FOS making JSB valued at $1.5 million
JSB LOST $500,000 last year and is expected to continue to loosing money . Quite possible that the FOS alleged profit will not exist this financial year , could even be a mega loss considering Covid
JSB has a net asset backing of NEGATIVE $300,000
FOS now is responsible for half or $2 million of JSB liabilities and handed over 3 million shares or cash value $750,000 for the privilege of turning around a loss making company that has NEGATIVE assets
As aside note. HGL the seller of 50% of JSB a liquidators dream cant make money to save its own skin making a loss of $10 million
Care to respond to just this bit before we continue
FOS Price at posting:
20.0¢ Sentiment: None Disclosure: Not Held
