The "story" sounds really good; possibly too good and I have four main areas of concern.
1/ I read somewhere that ASIC made the company re-write the original prospectus. CXZ were forced to tone down claims of future earnings. Promising the world makes management appear a little too eager. If they promise too much and fail to deliver the share price will be hit hard and investors may lose trust in management.
2/ CXZ wanted to raise $6M and only managed the minimum required $3M. This leads me to believe there are plenty of others that are not convinced the company will succeed.
3/ $3M isn't a lot of money, which wont take long to burn. A good size steady income stream may be a while coming, if at all. I predict at least one capital raising in the near future, possibly followed by others (unless they hit it out of the park).
4/ Competition. There is a lot of tech geniuses and money in places such as Silicon Valley. If the industry has the potential to grow to $US50BN a year by 2018/25 I imagine there would be a heap of people with brains and money working on their own versions of this service.
Like I said, I love the story and all the luck to them if they can pull it off, but I still need some convincing before I'd be prepared to throw anymore then a little token money in the ring.
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