Sounds fair - GEM appears to have similar revenue to ZIP, with NPAT as you say. It has about $1.94 bil assets and about $900 mil shareholder equity, mostly made up of intangibles, which is most likely goodwill?
ZIP has no NPAT and whatever assets it has outside the receivables, which are pledged, are desks and chairs, equalled by its liabilities. CS said that it had a debt free Balance Sheet lol. If so, it is also asset and shareholder equity free too. Generally borrowing for a buyback is not permitted, but shareholders can give their permission. If they did, what purpose would it serve? They have nothing in the Balance Sheet, whereas GEM has a fair amount of shareholder equity to bolster a buyback, ZIP could only go into debt to do it.
I think she was getting very much ahead of herself but that is understandable, given the starpower she has as well as her large personal stake in the company's fortunes.
$3 Party, page-1574
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Last
$3.36 |
Change
0.050(1.51%) |
Mkt cap ! $4.386B | |||
| Open | High | Low | Value | Volume |
| $3.31 | $3.40 | $3.26 | $37.72M | 11.25M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 800 | $3.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.36 | 284106 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |