A pleasant surprise to see a profitable ASX microcap managing to do a small (and sensible-looking?) acquisition without having to tap its shareholders for money like the rest of that market right now.
Though having said that it’s down 6.5% on almost double the average volume over the past four weeks, so perhaps someone better acquainted with the company than I is not so impressed. I wonder if this is a reflection of the reduction in cash, yet looking at the Annual Report, at 30/06 they had $11.6M in cash and $1.9M in receivables due, so $13.5M positive position and are currently profitable as far as we know. Curious for others’ takes on this acquisition and the market reaction? (if indeed anything can be read into it).
The loss of the 4C reports is a small blow for me as that’s how I like to track stuff, but the fact they’re no longer required to submit them speaks to their own success.
XF1 Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held
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