Still comfortable holding FRX as the potential upside is compelling.
TA:
Has largely traded in the range shown below since late November, with supply starting to drop off (which is positive). However, a break to the downside of 4c would be concerning with next support closer to 3c.
FA:
Cash receipts (last 2 quarters):
June 2021 - $369k
September 2021 - $680k
Revenue building very nicely in four announcements since 16 November:
Wave Rewards - $800k (per annum)
BP Mobile - $275k (per annum)
Global Wireless Telecom - $600k (per annum)
Mastercard extension - $250k (payment in Feb 2022)
Cash (as at 22 October 2021) - $3M (including $1.5M raised at 4c back in late October)
Market Cap: $22.17M
Next quarterly report due end January.
Patience needed.
Still comfortable holding FRX as the potential upside is...
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