I was thinking if the SP dropped into mid 20s it might be worth...

I was thinking if the SP dropped into mid 20s it might be worth a punt (even allowing for growth & margins questions).

But this reeks of diworsification. There's minimal overlap to the main biz.

Textbook career CEO move.

Did the previous acqua give them delusions of grandeur?

IMO their focus should be on building out their current model and paying half of profits to SHs.

The Regal aspect (i.e. being on both sides of the fence) is interesting in light of the share register kerfuffle (insert your own conspiracy theory!).

Re the numbers, the lack of detail is telling.

As pointed out DOC is a good comparison - currently doing double that in revenue and not profitable.

I wouldn't say the Price is exorbitant (1.2x P/S) but it's not cheap either - especially if loss-making.

GLTA