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4.8¢ butn limited

Ann: Quarterly Activities Report, page-4

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Seoultrader

200 Posts.

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16/03/23

22:23

Post #: 66812415
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Originally posted by templargin: ↑

Record performance for three consecutive quarters and eight out of last nine months in a row still does not seem to deserve a single comment. Tough crowd!

I expect company to end FY2023 with $500 million in originations (in Q2 it was $112 million). If we assume 2.5% revenue margin and 1% (of originations) cost of capital we will finish the year with $7.5 million operational cash which is the amount to keeps the lights on. Company needs about a billion in originations in order to start seeing meaning cash falling to the bottom line. Will they get there and will they get there without a need to raise money? I think so because BTN has $11 million in cash and they just started scratching the surface with MYOB customers.

It is, of course, a risky bet. But it is also a founder-led illiquid nanocap with tight register and product that seems to be killing it. I hope to not see an end to this record streak for a while.

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A bit of a strange cap raise today?

Call it 10 mil left in the bank…reason for a raise seems rather vague/non descriptive.

BTN Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 4.8¢		Change 0.000(0.00%)		Mkt cap ! $13.40M

Open	High	Low	Value	Volume
4.8¢	4.8¢	4.8¢	$960	20K

Buyers (Bids)

No.	Vol.	Price($)
1	36332	4.8¢

Sellers (Offers)

Price($)	Vol.	No.
5.0¢	13351	2

View Market Depth

No.	Vol.	Price($)
1	36332	0.048
1	70000	0.047
1	3697	0.046
2	272000	0.045
1	27054	0.036

Price($)	Vol.	No.
0.050	13351	2
0.053	16519	1
0.054	2127	1
0.060	1510	1
0.085	151140	3

Last trade - 11.39am 05/06/2024 (20 minute delay)

BTN (ASX) Chart

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