OK. so I hate that "super sceptic" has joined Hotcopper to purely try and unravel DFM. BUT I will agree that he has posted some good questions.
1. 30 year old with $300m stake. How did he get his foot in the door? how did he build up this 80% holding
2. Management - they get paid peanuts - why? - why are there gaps in their CV's?
3. Company Structure -> china listed -> hk listed -> Australian listed
4. Holders - Why did 10% get given to two entities for free?
5. IPO - looks like Monex boom & Prosper rich got most of the IPO holdings
SO.. is this a fraud, I don't think so. I think its a good company, I have no idea how it started - and i'd like to know. I do believe the company is running a profit, I do believe the numbers they put out to the market. What I'm unhappy with is the shareholders are not Australian (with the exception for perhaps <1% of the float). I hate it that is not diversified - so if propser rich decide to sell or if monex boom decides to sell = we go down.
I'm sticking with my LONG call, but I wouldn't be surprised if we head lower before higher. We are setting up for a VERY large move in either direction if the Bollinger bands are correct....
