I think the positive look to the buy sell stack is due to the positive appointment of director Ashley Farriugia and ex director Mark Armstrong‘a pause in sell down taking effect.
Tech Labs Capital is a boutique investment fund that not only offers capital for B2B SaaS companies, but have real-world experience building scalable SaaS companies and breaking into new markets. Ashley is director and founder of this investment fund.
It is such a tightly held stock by company insiders and DW supporters that the lack of float is due to the undertaking by 50+m holder M Armstrong’s undertaking to not sell down any more till the EOFY.
He has been the one responsible for the constant drip feeding of cheap shares over the past several months holding the share price down.
Also don’t be surprised to see ongoing support on the buy side as I would suspect the newly appointed directors other side line Tech Labs Capital will want to hold a decent sized stake as well
It won’t be obvious until an update of the major shareholders list is available.
The words from DW at the AGM that profitability is soon to be realised and that most of all future US growth will drop to the bottom line
RMY Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
