Comparison with SYT is unfair IMO... not only to IAM but to SYT as well...
First of all completely different sectors... I wont say anything bout SYT as I know little about the company... however it did 3.9c after relisting which equals to a market cap of 80M undiluted...
IAM to achieve the similar market cap diluted will have to do 5c... or 6c based on EV...
IAM is very close to cash flow positive if not already.... have done no marketing so far so all is based on word of mouth...
It's not only a tech stock.. off shore processing makes it unique as well...
The whole sector is under a lot of stress... the srevices offered by Intiger are not a luxury... it's a need... so for the survival of the business 30-40% practices need to cut down their costs or they are out of business... Intiger offers some exceptional cost cuts... so you take the services or you go home winding up everything...
Intiger model is already working and is based on industry problems... so they offer the solution to the problems industry is facing... one of the things in any business is to offer a solution to the problems or a problem...
No big client as yet... which means if one of the big boys come on board they will bring massive number of clients... like the top four have enormous number of practices... like more than 500...
MF needs only 85 practices to achieve all of milestones including 40m NPAT... we also know from the last meeting that they has non binding conversations with NAB and AMP... now AMP is not amongst the top 4 but when it comes to financial industry, they at times make the top 4 shy... so any big boy on the board means a large market cap... I let people make their own mind and do the guess work...
First mover advantage with little to no competition when it comes to offshore processing...
Intiger also offers a full package including backdoor office works through two softwares... so not just one off shop but a complete Fintech stock.
Fintech stocks which are disruptive in nature have market caps really large... even at asx companies generating 1-3m Npat have market caps of 100-200m... Npat 3-6m means market caps of 300m to 500m... will it happen here I don't know...
Anyway, we have discussed these things in details... no point of repeating them...
I have done my DD and have attended the meetings... I know the struggles in the sector and the amount of busineses running out of life if they don't adapt... so all in all its just a matter of when not if for me...
Hopefully IAM starts trading within couple of weeks with a presentation... so we all know the potential which will help us make informed decision...
Cheers and all the best to us all
SRT Price at posting:
2.6¢ Sentiment: None Disclosure: Held
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