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...
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $6.615M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.1¢ | $3.091K | 273.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 239249 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 143877 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 148340 | 0.011 |
3 | 1375000 | 0.010 |
4 | 760940 | 0.009 |
12 | 4410776 | 0.008 |
3 | 3800000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 143877 | 1 |
0.013 | 166666 | 2 |
0.015 | 252150 | 2 |
0.016 | 175000 | 1 |
0.017 | 150000 | 1 |
Last trade - 15.44pm 06/09/2024 (20 minute delay) ? |
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