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Agree with all the Steve Sage commentsWhat is there to fear from...

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21/12/23

10:49

Post #: 71565074
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Originally posted by SteveSage: ↑

Manage to watch the investor briefing video now posted on the SITE website.

A few takeaways:
- still no hard numbers for FY24 but broad picture given for FY25 (revenues >$25m and return to pre-covid times)
- FY24 aiming to be cashflow positive although not clear if that includes the ~1.1m received from this earnout or whether that is based on operations
- FY25 expect to be profitable as they have taken out costs & a decent share of revenues coming from international (I'm interpreting Saudi Arabia) so margins should be better
- Clark property being assessed for rezoning which would mean a significant revaluation (currently valued in low 20s with SIT owning ~38%).....did not quantify what this would mean apart from saying current zoning for a 2 story building and the new zoning would be for a ~20 story building. Apparently there will (might?) be an update in 1Q next year but Vernon gave no commitment to any dates/timelines/valuation

Still no hard numbers for FY24 or even guidance for 1H24 vs 2H24 to manage market expectations which is poor and the lack of any presentation material (or even updating the preso they did in April23) seems rather poor (lazy!!).

Reach Markets which hosted the briefing is a paid service (paid for by the company ....so us shareholders), and it was rather poor IMO.....not sure who scripted the whole thing, but it felt quite artificial and no challenge on anything.....there were some questions from viewers at the end where most of the above takeaways came from hence my view that Reach is a waste of money (there is a forum called Coffee Microcaps where CEOs pitch to investors what their company does and that IMO would be a better forum/platform and not to mention it is free.....but would involve Vernon or someone at the company doing some work in putting together a presentation that will better inform shareholders)

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Agree with all the Steve Sage comments
What is there to fear from great clarity and transparency

I also look forward to a fully costed professional presentation
Including new shareholders and backers

Currently a very illiquid stock in terms of participating market support
What is the cash flow really looking like at the bank ?????

Best Regards, Recherche

SIT Price at posting: 0.2¢ Sentiment: None Disclosure: Held
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