Share
1,674 Posts.
lightbulb Created with Sketch. 248
clock Created with Sketch. 09/04/24
14:48
Share
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.
Expand
There has to be an inquiry into how they were able to float in the first place. The Frankly business may be worth something if they haven’t destroyed it.
(20min delay)