I agree with all your comments above, Marin and Sons now have 1.3million reasons to get this SP as high as they can.
Being a US entity it would be complicated from a tax perspective for them to invest in an ASX listed compared to a US listed co so in my view they don't go to all the effort to try and get small gains, they are in this for the long haul and a market cap significantly higher than where it is today.
Many ASX companies try to penetrate the US market and fail by using a small network of fulltime sales reps, what the team at SHG have done is extremely smart in my view. CG1 originally came on as the master distributor and they are run by an ex veteran, in the US there is special programs and funding for ex veteran companies but also its the network that CG1 have instant access to which is important. Marin and Sons came on board with performance rights based on hospital contracts but it seems like even they saw the potential in the Veteran Space and also the Education space and realised they want a bigger piece of the pie and appears they have agreed with CG1 to take the bulk of the placement now that it has been approved. This bodes very well for us as shareholders, Marin and Sons appear to be extremely well connected and are now incentivised to get as many contracts as they can, CG1 will need to work even harder as they have less shares but also CG1 must have been comfortable to take less shares and to work together with Marin as they can see the value that Marin is going to bring.
Steve Marin was voted in the top 100 most influential people in Florida in 2020, Steve now owns over 5% of SHG. Marin and Sons are a campaign lobbyist specialising in Political campaigns and in the USA its more about who you know than what you know and that's evident but the huge wealth which is accumulated by the politicians over there. So now Steven can tap into that huge network of politicians and government bodies to set up meetings for SHG. (Here is the 2020 edition of The INFLUENCE 100: The most influential people in Florida politics)
Its not just government bodies though, in 2013 Marin and Sons worked with Private Health Network Jackson Health when they wanted to persuade voters to approve a $830m upgrade which would be financed by a property tax hike. On this campaign that they were engaged it was headed by Ashley Walker which was the Florida Chief for Barack Obamas re election effort so again shows the network that Marin and Sons is operating within. (Jackson assembles political team to campaign for $830 million bond initiative | Miami Herald).
When Marin came on board they were listed as having clients including Jackson Health, University of Miami Hospital and Miami Children's Hospital and their performance rights were based upon contracts with a individual hospital or vesting of all the rights if they can sign a contract with a larger hospital network and their contract specifically mentioned a "National Healthcare Organisation (Such as HCA)" HCA has 186 hospitals across the USA so this was something that stood out to me, if Marin and Sons can set up meetings with HCA and advocate the products to the right people then the potential is huge. One large hospital contract with a network like HCA or similar and we will all do very well as shareholders. (SHG ASX announcement - Appointment of USA Public Affairs & Corporate Advisor - Sep 20, 2023 (marketindex.com.au))
The Craig Sellers is bit left field for me but that fact that someone of his calibre is not only a user but also prepared to buy into an ASX listed co at close to a 40% premium to a raise 1 month previous shows that he must have really wanted in to the company. He co-founded Tether which was cutting edge at the time and is now integral to the blockchain and has a +$100bil valuation. The most important part of his investment was the commentary from Craig in the announcement SHG ASX announcement - Strategic Investment from Craig Sellars - Mar 14, 2024 (marketindex.com.au)
SHG Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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