I've been following RNT since it listed but really began paying attention when Bader joined in 2016. My notes at the time said:
rent.com.au is a basket case. Revenue of $730k and cash burn of almost $7m for FY16. They only listed in 2015 and have raised capital twice since then. IPO $5m @ 20c June 2015, $3.7m cap raise @ 28c November 2015, $5.4m cap raise@ 15c April 2016.
It has all the characteristics I like in a potential turnaround bargain -- disgruntled shareholders who have been beaten up with dilution, currently loss making, but good management.
Bader and the team have been making good progress since and I had been planning to review in March/April after the launch of RentPay but this morning's news brought everything forward. Entered at 9.5c/share.
Investing at $38m cap is acceptable for me. I would've much preferred sub-$20m as originally planned (when RNT was still under the radar) but can't win them all.
Ann: Share Placement to Strategic Investor, page-53
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Last
1.9¢ |
Change
-0.001(5.00%) |
Mkt cap ! $11.96M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 1.9¢ | $18.75K | 927.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 632 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 18083 | 3 |
View Market Depth
| Last trade - 15.50pm 14/06/2024 (20 minute delay) ? |
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Last
2.0¢ |
Change
-0.001 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 1.9¢ | 2.0¢ | 1.9¢ | 141348 | ||
| Last updated 12.58pm 14/06/2024 ? | |||||
| RNT (ASX) Chart |