Ok a good update from my perspective - not sure what everyone else was epxecting.
- cash burn 200k ---- got 3.8mill in the bank - core business making profit 36k EBITDA - alot of work around rentpay and plenty more to come, it will continue to evolve and improve post launch -advertising , loan generation for rentbond, all on the up -the utilities partners, banking partners, and advertising partners -- all will keep building, the more people using the platform the more attractive it becomes for potential partners.
Guys - early stage start up tech business. but like someone else mentioned low operational costs, cheap to scale, and easy to substantially increase profitability.
Need to heavily advertise and grow the user base, rentpay and rent.com need to deliver on user experience.
This is a first a platform and ecosystem completely for renters ----- rentpay UK......rentpay europe....
I was in at 18c out at 32c, back in at 17c on the drop ----- now its a bottom drawer stock.
Ill let them deliver - in 3 years this could be the go to place for renters in australia, and looking to expand internationally.
Huge potential, high risk, but cashed up and creating a quality product.
My real estate agent utilises it, and ive spoken with customers and users of the platform - its very positive.
As always DYOR -- im happy to ride out fluctuations. in hindsight selling over 30 and buying back today would have been better, but i got lucky last time, and im not that good at technical analysis --- fundamentally i want to see this play out over 24 months.
Become profitable and watch them scale.
RNT Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
