Hi Viva.....I really wanted to hold ICP and wrote to them asking why the directors didn't hold many shares and received an unsatisfactory reply. I was then dissapointed by the capital raising at 5 cents for "sophisticated investors ""....slap in the face for the small guy. I was unimpressed with the I Cash Korea website that had not been updated on the R + D page for a number of years. So ...my intention was to buy but given they are cash strapped and are prone to capital raisings when the share price spikes and sophisticated investors presumably are aware ...selling into the spike. Fear of this happening will cap the share price. The trading halt for the Metcash contract was a joke....they could have just announced to the market....didn't warrant a trading halt. CUS has plenty of contracts with IGA merchants and will continue to do so - it's not an exclusive contract...just preferred supplier...which in essence means Metcash pushes the case for ICP ATM"s but the merchants make the final decision who they go with. If CUS wants to keep the contracts they can simply increase the merchant rebate to close out ICP as they can afford to as they have mountains of cash. The next 12 months smaller and cash strapped ATM deployers will feel the squeeze and market consolidation will take place. So for the moment may be worth trading when sold down but better value elsewhere with CUS - Hunter Hall has a $3.80 target on them.
STL Price at posting:
47.0¢ Sentiment: None Disclosure: Held
