@Helios11You're really talking BS here. The mcap of IR1 is not...

@Helios11
You're really talking BS here.
The mcap of IR1 is not $400m.

The share on issue (SOI) is 125m but over 50m of them in escrow as you can see below.

And 10m of them will not be coming out of escrow before June 2025 (2 years).

IMO there will be 110m shares after that 36.6m shares released form escrow (which owned by a director).

So I consider the mcap is 100m x $2.10 = $220m.

This is very cheap for me because when I look at PMT and AZS mcaps it's too cheap. Time will tell anyway.

Also the management performance right are in escrow for 2 years. That shows to me that the management is not greedy and confident of what they are doing.

Just imagine what's going to be the stock price of IR1 in 2 years time when those shares in escrow came out?

10m shares would have been soaked up yesterday and today if they were free.

See below. All the yellow ones are in escrow.