My comments on racism specifically relate to Cyprus. It's an ECB member, subject to the same regulations. The company also has strong connections in Cyprus such as Dr Theocarides. Why set up there is a historical qst. Maybe, it's an accommodative jurisdiction/ for tech companies? Maybe it relates to the job market? It doesn't really matter. The point is throwing shade because it's Cyprus is basement level analysis.
@jkbp89 You get your money back through selling your shares. If the market will only pay you 7.5c in the dollar then that is what they are worth. It's the harsh reality but that is what makes a market. Nasha has offered 7.6c. Drop him a DM on twitter.
If you're an unwilling seller at that price (as I am) you wait for the IPO.
Why not IPO now? Besides the obvious - the well documented bear market for tech IPOs, the company needs revenue growth and momentum to attract other investors. Otherwise we'll see 5000 tired and capitulated shareholders head for the exit on listing. I think we all know what that means for the SP. As such the focus on growth is the right one.
I'd add to this - I still think the company needs to move past the ASIC case. If that goes against JK, then a different mgmt set up may be required for the IPO. It's not my base case but nothing surprises me so I'm not ruling out the possibility.
The third reason is my primary one -JK is the majority shareholder and it's within his best interests to maximise the share price. I imagine he may want to liquidate a percentage of his shareholding on listing as do many here. Paper rich is still poor if the company isn't yet paying dividends. What's the best outcome for JK in this scenario? You don't have to be a supporter to do the maths. If he doesn't want to list yet then you can be sure it's not beneficial for him to do so.
What people forget is that isx feu needs a certain proportion of public shareholders to list. In this our interests and the major shareholders are aligned.
