Great Potential

Since this is a new emerging story I thought its a good idea to summarise bits and pieces of information and research that various people have posted on this.
Big thanks to @Fibonarchery @cocoman @Dr.Seuss  and others.

Norwood System formerly know as Monteray Mining Group

This is a backdoor ASX listing. On 4th May 2015 it has suspended from quotation and new company "NOR" was born and became afloat on 16 June.

In order to acquire Norwwod system company issued a prospectus to raise $4m this was significantly oversubscribed and $5.5m was raised.

Below part of the announcement re oversubscription:

Monteray Mining Group Limited (Monteray or the Company) is pleased to announce that the Replacement Prospectus Offer (Offer), dated 22 April 2015, has been significantly over-subscribed after attracting strong institutional demand and retail support.

Paul Ostergaard, who was appointed as Managing Director at the General Meeting, with effect from completion of the Norwood acquisition, said:
“By achieving our maximum raising amount, we are well placed to execute the business objectives we have outlined, including marketing and business development of our award winning CORONA and EUROPA platforms, alongside further R&D including our World Phone product,”
The strong support from investors gives us significant encouragement, and I look forward to keeping our investors updated on our progress following completion of the Norwood acquisition.”

About The Tech:
From March Quarterly activity report:

Norwood has developed one of the world’s most advanced alternative roaming solutions to significantly reduce mobile phone voice roaming charges for corporate travellers; its proprietary Corporate Roaming Network Access (CORONA) platform. Norwood was one of the most highly awarded technology companies in Australia in 2014, and was the winner of the ‘New Product’ category at the prestigious National iAwards in August 2014.


This is also a great post by Fib with more info around the tech and company progress:

Another good post from cocoman:

Also a very important point is CEO has got skin in.
in fact he owns 36% of the company and he looks like a solid and knowledgable guy.







That image on his LinkedIn profile showing the CORONA network is really interesting.

Significant Volume:

350 m shares changed hands in 7 days since the company become afloat on 16 June.
Assuming CEO has not traded his share thats almost all remaining register (550m - 198m)
IMO the was profit taking from old shareholder and it was all eaten up by instos otherwise it would have resulted in a collapse in SP on the other hand it kept going up slowly but surely.

NOR Price to book ratio at current price (0.036) = 8
ZIP Price to book ratio now @0.89 is 12.5 and it was around 16 at high of ZIP sp @ 1.22

NOR @ price to book of 16 will be around 12c
NOR @ price to book of 12 will be around 9c


July is the global launch of the tech and continous flow of good news is expected imo.

All in all I think its a great story and great potential.

All imo, Always DYOR