I agree with you $stockfella. To add a few additional comments,...

I agree with you $stockfella. To add a few additional comments, having observed and invested in HT8 for several months now:

1. The revenue growth rate of the business is superb and it's now profitable. Yet it is trading at less than 1x annualized revenue. How many public e-commerce companies are trading on this type of multiple? Temple & Webster is trading on a 7-8x revenue multiple.

2. HT8 management are proving themselves to be strategically and operationally astute in my view. They sold off the wholesaling and business distribution operations in mid-2018 in order to focus on e-commerce. Smart move, they have effectively built a ~$40M consumer facing ecommerce business in 2 years. Wow! They tried selling PPE and when it showed less promise, they stopped focusing on it. Another decisive move. They've also been smart to leverage third party e-commerce platforms to extend their sales channels at very low cost. This is good old fashioned entrepreneurialism or "business agility" in today's corporate speak.

3. They are clearly incredibly customer focused. I want to invest in businesses that make their customers very happy. The ratings HT8 are getting is incredible: https://www.amazon.com.au/sp?_encoding=UTF8&asin=B07HZ6B6R1&isAmazonFulfilled=1&ref_=dp_merchant_link&seller=ANISKM2DCJT3D. To achieve this they clearly pay attention to detail.

4. They are clearly running a very tight ship - headcount and operational costs are very low, possibly too low in my view. Clearly the CEO is cost conscious and there is no fat in the business. How many ASX listed companies have this sort of cost discipline?

5. I want to invest in businesses where the CEO has real skin in the game because he/she is going to work extra hard for me. The CEO of HT8 is the largest shareholder, he recently bought more shares, and he is debt funding the company with his own money. Unless he has money elsewhere, he has it all on the line and I am betting his net worth is dependent on making HT8 successful. His salary is a modest 180k + super. I love these types of CEOs - they are going to build for the long term and do what it takes. Unlike so many public company CEOs who take a grand salary, screw things up and then march on to the next job.

In summary, I reckon Harrison is the sort of Aussie entrepreneur - a modern day Gerry Harvey in the making - who I reckon is worth backing! Being "disappointed" with a business that is showing these characteristics is a strange sentiment. But if you are in this for a quick in-and-out, suggest you try something else.