CXZ 3.70% 2.8¢ connexion mobility ltd

Ann: Statement of commitments, page-3

  1. 1,758 Posts.
    lightbulb Created with Sketch. 2
    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.
 
watchlist Created with Sketch. Add CXZ (ASX) to my watchlist
(20min delay)
Last
2.8¢
Change
0.001(3.70%)
Mkt cap ! $24.55M
Open High Low Value Volume
2.8¢ 2.8¢ 2.8¢ $876 31.27K

Buyers (Bids)

No. Vol. Price($)
1 18725 2.8¢
 

Sellers (Offers)

Price($) Vol. No.
2.9¢ 175910 2
View Market Depth
Last trade - 15.51pm 09/08/2024 (20 minute delay) ?
CXZ (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.