Hi there. Well I am currently invested but have to admit that I am playing with trading profits after tax in this stock. I have bought and sold for probably some of your concerns without understanding what my issues were. Probably my analysis keeps coming up with cheap and a very long runway of opportunities. However I was lucky in that I purchased around 13cents and sold around 20c then went back in at around 24c and sold around 40c. That was my averages and at times I have held a parcel that cost more as part of the holding - I always seem to get left or just hold a few to watch events unfold.
On both occasions when selling out I thought I could be making a mistake.
So why invest:- In my case easy - cheap and a technology firm where the cost to do business seems to be falling for each incremental client. The IoT the lower cost of these ANPR camera's etc.
Then there is Mr Christopher Morris whom I respect and think he is the right investor for a technology business trying to gain traction in a new business area. He also is a great cornerstone investor in this owning some 30%. I think the family owns more than 30%.
So why am I back in?
Well outside of the rhetoric from some politicians who are totally opposed to anyone else charging for breaches but love extracting fines from all of us, it is logical that parking and congestion is a growing problem. Parking is a scarce resource and as such the hourly rates for cities is getting very high. The parking system of choice is a parking garage where you cannot exit without paying and there is no limit on time other than a financial penalty for longer stays. In reality that is no different to the objective of a shopping mall - they want you to find a parking aby relatively easily but to not hog it. Remember the days of validation ... They may even come back in that each place you purchase. something even a coffee extends you time allocation.
So whilst I think there is no reason why the PBN should not be a valid charge I do realize that the business has a bad smell much like cigarettes. Well they still thrive ... - Even the government want smoking to continue and then there is alcohol and coal mines = telling the voters how much more they would pay if these taxes were not collected would send us all packing our bags for some place other than here.
I suspect that the government will start charging a processing fee to give out your registration details and all pollies will applaud the upholding of parking rules.
What I am unhappy about is that this hasn't created opportunities for real time road signage and lighting. With LED's its an easy add on.
Bottomline - I see this as an inflection point with many hiccups but over the next 5 years it should give you good returns.
However as an industry it has had a high pricetag and not benefitted that many. Macquarie put a parking business into one of its EU funds at a cost of GBP750million and got out at GBP450 million some time later.
They then went back into another at some point.
"The Macquarie European Infrastructure Fund's £790 million ($1.94 billion) acquisition of London-based car park operator National Car Parks is expected to generate lucrative investment banking fees for Macquarie Bank. But unlike recent big transactions, the bank didn't use its own balance sheet.16 Mar 2007"
https://www.infrastructureinvestor.com/macquarie-offloads-ncp-in-450m-deal/
https://www.infrastructureinvestor.com/macquarie-reverses-back-into-parking-with-empark-deal/
I had to look them up to remember the facts.
I ultimately think that this platform could be used for many things - payment , reminders and maybe even pay penalty at exit...
Thanks for all your posts
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