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knowwhat

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246

10/04/24

06:02

Post #: 73267337
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Originally posted by KymChy: ↑

Certianly some tricky stuff to navigate but as at last report like 6 months ago they owe 5 mill all up against a 4 mill valuation. How much is that now? A DOCA is prob on the cards, but if u looked deep into their accounts there is no business. Membership fee revenue circa 600k. Product sales say 20 mill but no margin only overhead. If u sliced and diced that further it would prob be 95% store cards such as Woolworths Wish cards that have no margin and cost money to sell. One plus is if the board/ managment went it would save about $500k instantly but it wont fix the endemic problems of selling product with no or minimal margin.

There is nothing to buy other than the 600k and the data base which I believe actually belongs to the clients and and not MRI; client goes, database goes with 'em. IGodirect could use the tax losses but what are they worth atm?

Considering that after all the money burnt there is no material differnce to the business or business model since the IPO, the more puzzling questions are how were they allowed to float in the first place and what happened to all the money?

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Waiting on todays update saying we will have an update today

MRI Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
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