I often wonder why some listings remain toxic business models.
Do the previous board members/management after having their fill with fees/consultancy/salaries etc simply realise they have squeezed all the juice from the lemon and then do a "deal" with like-minded entrepreneurs
......and the cycle keeps revolving.
Run up billions of shares, filling the pipeline with "available" cash, then massive consolidations and just do it all again. In the meantime promoting a new storyline to keep the narrative alive.
Will IFG be the same - I have no idea.
However, with minimal cash and another story line tagging AI and all things technology it is beginning to raise the same red flags.
It seems to me that they are all getting set again with freebie incentive packages and now accessing cash from wherever to keep the gravy train alive.....
They claim to be maintaining Frugl and mentioned Metcash. The deal has never produced any notable revenue. The app is redundant in terms of its usage with Coles and Woolworths. Their apps give you all the data any shopper requires.
Are this "new" mob of "experts" simply a repeat of toxic listings at this end of town or do they have some authenticity?
I guess the punters now sit and watch. Wangle/Family Insights etc were a total sham.
IFG Price at posting:
1.4¢ Sentiment: None Disclosure: Held
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