Well it is not exactly day 1 is it? According to the prospectus they have been around since 2004 (pg. 46) and have incurred losses since inception (pg. 74). The May 2014 presentation says they have spent $10m (pg. 8). After all that time and all that money the most recent figures show sales of $26,000 for the qtr. I completely understand the concept. I am just not seeing any history of a profitable business from it, or any rational argument that profits are about to appear.
IWG Price at posting:
31.0¢ Sentiment: None Disclosure: Not Held
