Assuming they break even this qtr on operating cashflow (probably small negative say $2m) and sale of retail goes ahead that should leave them with min $30m in cash maybe more given Are Media are taking on a negative working capital cashlfow of $27m. And while the Directors would be very conscious of trading while insolvent, I think this has a lot more life in it that what the SP is allowing. Granted it is a shite industry which ain't going to get better anytime soon but for a punt and a chance to easily double your money I'm happy to take on the risk and have bought in for a 2-3 month time horizon.
News: OVT Ovato Says Will Sell Entire Retail Distribution (Australia And New Zealand) To Are Media..., page-21
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Last
2.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $50.75M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.6¢ | 2.4¢ | $700.8K | 28.25M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1097145 | 2.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.6¢ | 1592123 | 8 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| OVT (ASX) Chart |