To attempt to add something to the discussion, I've been following this since it floated. I admit I was amazed to see it go as high as it did and I still think it is significantly overvalued for the risk involved.
Why do I think this? Simple - they aren't making any profit and even for a company in the growth phase I am not convinced they actually have a profitable business model. Have a look at the half year report for instance. Revenue increased from $1 million to $2.8 million. That's great, but their LOSS over the same period increased from -$1 million to -$6.6 million. Basic maths will tell you than means they had to spend a whopping additional $7.4 million to earn that additional $1.8 million in revenue.
At what point does management expect to grow revenue at a faster rate than expenses? All I see is expenditure growth outstripping revenue growth. When will it turn?
I still check in with cv1 every now and then because it may reach a point where they can turn it into a profitable business and it may then be worth looking at further but for now I'm not convinced. The financials say it all.
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Last
11.5¢ |
Change
0.010(9.52%) |
Mkt cap ! $49.86M |
Open | High | Low | Value | Volume |
11.0¢ | 11.5¢ | 10.5¢ | $81.52K | 725.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 82046 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.0¢ | 1704847 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 82046 | 0.110 |
3 | 273000 | 0.105 |
3 | 169998 | 0.100 |
1 | 98770 | 0.098 |
2 | 60000 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.120 | 1704847 | 8 |
0.125 | 501950 | 3 |
0.135 | 15398 | 1 |
0.140 | 10000 | 1 |
0.150 | 61348 | 2 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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