Ok.. as usual Alex called me back in around 15mins. I asked him how gridcomm was coming along and in summary Gridcomm are not signing the big contracts that would help justify listing at this stage. However i did dig deeper and they are making revenue and running the business of the limited convertable note they got last time around and their current receipts. From my perspective this is great news as it shows the business is definitely revenue generating and could easily make money when they get to scale. Like ODN they do not have fancy offices and do run the business on a limited budget. The amount of companies that list without any revenue whatsoever or show massive losses against minimal revenue is extensive. Quick example of the top of my head (non miming) in the last 3 months alone are RMY, PRZ, RZI, WOA, VN8, DXN.
I did ask Alex that if Gridcomm did come to fruition are we able to RTO another business and the response was it would be possible but he would not elaborate further which is fair enough (would have to be shared with market). If the company did list with a few big contracts it would be interesting to see how much cash they may need to raise as part of an IPO. If it is small, then we may be able to stag on IPO price.
No point changing my sentiment from Held and Hold as I have no bloody option .
