@Scrapper** in other words... IPO or pre holder shares were sold below issue price upon first listing?
IPO price @ $0.20 is the magic number - opening price would be the first transaction
Agree that CR concerns will not go away until revenue growth occurs... since the chainsaw went through the expenses for two quarters prior to the post VISA CR - expenses have grown from a low of 800k a quarter to closer to 2m a quarter again.... IMO - largesse is returning when it shouldn't be.
Last quarterlies showed 4 quarters of cashflow remaining... we are again approaching point of "no opinion" from auditors... IMO CR will be incoming in the next six months as annual report is March 2022. 9SP will need greater than 12months of cash available at that time to ease the administrative burden / ASX handbraking. UNLESS we get some massive injection of recurring revenue or one off payment for license to avoid ofc. IMO CR would be lucky to be done at $0.008 per share at current run rate. Would not participate.
We really do not know how customer uptake within BoA & BNZ - both of these are 18months or greater away from renewal ATM, but SURELY the client would be happy to allow 9SP to disclose to market how many of their customers are using the product (if it is a positive experience / value add for the client). Perhaps this QTR we can do some retrospective reviewing of how much / little OCBC contributed to 9SP's revenues - but that experience highlights the void of news from 9SP on their client relationship management - as you say - also highlighting / enforcing the shift in product focus.
9SP Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
