Good morning gang.What an interesting couple of days hey.My...

Good morning gang.

What an interesting couple of days hey.

My colleague had a few detailed discussions this week with management.

What I know is that ALL of the capital from the 'placement' went to institutions.

The company COO has spent the last 2 weeks meeting and presenting with brokers, analysts & fund managers.

The raise was massively over bid and demand was well in excess of script available. The board was asked to increase the raise substantially and the BOD agreed not to. So there was a lot of unmet demand and I am certain we will see that major accumulation continue from here.

The remaining $3m 'sell down' script was offered to brokers, and went to 708's.
I am pretty sure that was the selling we saw yesterday as 708's cant help themselves and book their 20-25% instant profit and move to the next cap raise.

I and a few of my colleagues have participated and have increased our position in VR1 and are NOT sellers.

The instos are predominately tech focused funds, both here and overseas...that understand what the business is doing and want to be involved long term. Those that have been around long enough know there is no way you can guarantee that is what will happen, but I have a feeling most will see the long term play here and because they understand this segment and the size of the prize and the tier 1 tech partners we are exclusively in business with I am doubting these guys will be in this for a short trade.

From mine and my colleagues many discussions with management we understand the company is aiming to grow this to be a global giant in the digital transformation space, and we can see that a $5B market cap is likely their target, and even beyond that due to the size of the market we are already becoming a leader in.

So having $20m in cash will aid the BOD to be able to provide sufficient capex and opex to scale quickly.

We are still waiting on a number of updates on major trials and partnerships previously announced and GO has promised me they will do so imminently.

I am 100% certain we are on a major winner here and opportunities like this come along on the ASX very very rarely, which is why I am heavily invested here as I know a number of you are as well.

10x