Guys - my issue is that with the kinds of announcements made - Kea/New acquisition/ Origin /Glen casey et all the SP has not moved an inch.
When one loks at the conversions price calculation of the financing done one can expect that at the end of every month there will be a tussle betwwen those trying to keep the prices down and people close to the management who would want a higher VWAP. Guess the managment lot should normally loose. Wonder if those convertingtheir shares will sell. Hmmm
Huge Capital that keeps getting diluted further and losses willmean a very very long wait indeed.
Volumes pathetic - sharp 20% movements intraday
While all sounds good on paper do not forget that there is no comfort in asset values and most of its acquisitions have been financed by convertible equity costing 25% effectively. Very expensive last ditch attempt - if it doesnt get on its feet ???
Not sure that the Co can afford Glen - Recall a $1.8M salary in Nylex - wonder what percentage of the possible 3 to 4M EBIT is being paid to him.
Key remains the execution risks. Not sure how easily one can get 3 business with completely different business rules and mindsets to consolidate and humm together. The last one like this was RCG - we saw that come down from 50 cents IPO to single digits.
whats your call
CCS
concept sports limited
