ID8 8.33% 1.1¢ identitii limited

Ann: Further engagement with HSBC, page-9

  1. 24,192 Posts.
    lightbulb Created with Sketch. 5566
    So stock is clearly in strong Downtrend since listing... Why would this be ??

    Looking a bit deeper ... Perhaps the Ipo price was too high possibly ?(Interesting and unusual for a Spec on the ASX to have such few shares on issue and such a High $ value as starter position). Possibly manipulation by instos insiders offloading who knows??

    But to my thinking its because of the heavy cash burn !!

    They had $11m cash at IPO 6 month ago now $7.3m including a 930k govt grant looking at 4C it seems most being spend on Staff/Admin and not as much on Dev or Advertising/ marketing . So YTD 2m on Expenses where did the other $3m go ?? and looks like another $2m out the door next qtr!


    So nearly burnt through half their cash in 6mth and Revenue remains thin at 94k + recent 400k deal. No one can survive on Govt grants for too long...

    I would suggest that they need some big Insto signups very soon or get their cash burn under control else they may disappear quicker than world vision food parcel at a Venezuelan border crossing...

    https://hotcopper.com.au/data/attachments/1468/1468739-1341113b1ec8d01207a214c5ef826ee4.jpg

 
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