Just reviewed prospectus dated 15 Jan 2002. After taking on board Optima, Iocom shares consolidated 4 equals 1. After takeover, Optima took control of both concerns.
Optima turned over $74 million in 00/01, profit $3M before tax, $2.5M profit before tax 99/00, $2M profit before tax 98/99. In the six months to 31 Dec 2000, just before takeover, despite erratic IT market, revenues exceeding $46M for first six months.
Todays announcement noted It is expecting a 35% increase of its revenue in Financial Year 2002 over the previous year. Next financial year starts with an order for 25,000 PC's (value each at say $400 = $10M)
May not be a short term big winner, but come July, these shares will take off, especially after they report positive cash flow and profit.
This gives no value to IOCOM which was doing good business before their financial screw-up. The two concerns compliment each other magnificently.
Downside may be liquidity.
Whose got any thoughts on this??
OPI
optima icm limited
