22c cash backing & EPS of 3.1c for the quarter

Thanks for the heads up @kdicaup

Grabbed what I could on the offer this morning as it is very thin at these prices

Here's what I like:-

They had 900M shares on issue, and were able to issue an additional 17.5M @ $0.20 to raise $3.5M through the IPO

With 917M shares on issue, the market cap at 6c is $55M



They had EPS of around 3c for the quarter, and cash on hand is currently $202M or 22c per share



So it is extremely undervalued on a cash basis alone, trading at 27% of cash backing, and the EPS of 3c for the quarter has it on a PE of <1

Stock has been sold off pretty sharply after the IPO, however there lies the opportunity. With 1 holder accounting for 76% of the stock alone, the liquidity is going to mean lemmings happy to accept any price can drive it down to current levels. The stock has traded less than a few
  


The key to a big move will be confirmation of a dividend or further acquisitions. At some point I imagine Mr Zhan Musheng will want to access the cash, but for now they have hinted at further acquisitions




Definitely not a day trade, but happy to soak stock at 27% of cash backing, when the earnings for the quarter put it on a P/E of <1