I believe that this company can still be profitable without the VET Fee help portion of their business however I am concerned about any legal action that could occur as a result of the government refusing to pay some or all of the money. SIT has made many aquisitions for both cash and script. Many of these former business owners who thought they were receiving a premium for their business may now been sitting on shares that value their business as a fraction of it's previous value.
Legal action could come in the form of not informing the market of the investigation (if there is one) early enough to extremely poor due diligence on the captain cook purchase in the first place.
Depending on the outcome, a class action similar to Vocation could be on the cards and we all know how that ended.
I will watch with interest. It will certainly be a buying opportunity if they come through unscathed and receive the monies owing but in my opinion this is unlikely.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.807M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $89.33K | 43.29M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2364659 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 43999053 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1364659 | 0.002 |
20 | 75355307 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 43999053 | 14 |
0.004 | 11988608 | 6 |
0.005 | 4560000 | 4 |
0.006 | 663333 | 3 |
0.007 | 3246667 | 3 |
Last trade - 12.12pm 16/08/2024 (20 minute delay) ? |
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SIT (ASX) Chart |