Someone or an entity has been accumulating for a while now.
Regular occurrence the last few months that on open that the bid volume is one less than the ask to ensure the SP doesn't open higher.
Constant bot manipulation frustrates all retail holders, how the ASX continues to allow this baffles me.
I topped up yesterday morning with a 2.5M bid on open, don't mind the risk/reward at the current SP.
Possibility the SP could hit 0.7-0.8 range but over the past 3-4 years this range has provided strong long term support.
Not expecting the 4C to set the world on fire with the Limepay acquisition increasing staff costs likely in the region of an 400-600k for the qtr.
The cash receipts as always is the big unknown, however we know Spenda & Capricorn are working on various new projects after the successful launch of Swiftstatment & delivery of the DSD.
"Spenda Limited (ASX:SPX, “Spenda” or “the Company”), an innovative software company with an integrated set of capabilities that enable trading networks to buy, sell, and pay more efficiently, is pleased to announce that it has successfully launched the SwiftStatement product and commissioned the first eCommerce Partner platform to the Digital Services Delivery (‘DSD’) initiative with Capricorn Society Limited (‘Capricorn’).
These achievements are significant commercial milestones for the Company that ensure continued revenue growth of at least $2.2m per annum, that includes $1.5m in the current quarter. Noting that both Capricorn and Spenda are investing heavily in go-to-market activities to deliver success with these critical strategic initiatives, which Spenda anticipates will generate strong maintainable ARR and growth into 2025. These minimum revenues represent a growth of 44% in annual revenue"
"The partners are continuing to explore new opportunities to use Spenda’s software to drive combined value across the Capricorn trading network."
SPX Price at posting:
0.9¢ Sentiment: None Disclosure: Held
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