Can't see it breaking 40 cents too much, that's where Medibank were offered 19.9% of the company (conditional).
However, the company needs to clear the air, clearly testing and acceptance with Medibank is slower than expected.
One of two conclusions - either Medibank are in or they are out. If they are committing resource into acceptance testing then one would have to conclude that they are in (I believe this to be the case). If so, this stock has the potential to be a 5 to 10 bagger as the other players will sign up and use the service.
Huntley's estimated (on the back of a postage stamp) 40cps earnings in 2 years time. That's not bad for 40 cents. I make it a PE of one at the moment on forecasted earnings.
Maybe ASIC have them on their list of businesses that might be trading whilst insolvent? Hence spooked a few traders out of the stock (as well as technicals).
I'm already in and happy to see it play out.
Phil
ICS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
