Was a holder of this and sold out some time ago just shy of the $0.60 high as I felt it was overvalued at that stage. I am keeping an eye on it for possible re-entry and I think that point is getting close.
One thing I noticed out of the CEO presentation today:
- at 30 June, they had $10.8m cash on balance sheet and no debt;
- per slide 12, now saying (one quarter later) they have $5m in cash and no debt.
Quite a level of cash consumption. I am assuming that this cash has been converted to stock build ahead of the Christmas peak for the hampers business. But it is something to note and watch.
GLTA & DYOR
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