How gullible do management think their retail investors are?
From reading this quarterly report the answer is quite a lot.
We are to believe that InfoCasas disastrous quarter "is in line with the ongoing transition to an Iris-led transaction model".
However when comparing 2Q24 - when InfoCasas had its best quarterly revenue - to 1Q25 there is no transfer of revenue:
- Centrify is down $1.2m or 60%
- Iris is down as well $19k or 4.5%
The only transition for InfoCasas is from cash flow positive to cash flow negative.
Iris is obviously not working but let's keep the dream alive. I wonder what's the next fugazi they will come up with...
Best of luck to Barrenjoey for offloading this beautiful specimen of the suidae family.
Unfortunately for them private investors are a bit more savvy than their retail counterpart.
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