Thanks!
Yeah I usually don't invest in these small scale tech IPOs but it caught my attention because of the David Williams thing. Did I read this part right?
They got about $650k growth out of 10 new clients. Removing the one outlier who paid $500k - does that mean the other 9 customers only paid about $15k each?
Seem like a really strange IPO to me- their cash balances look more like a company in dire straights! . The other part that really stood out to me was that they have been trying to sell this thing for 5 years (plus a few more on the vendor marketplace) and there's a note in there about only having 200 prospects that they have spoken to once?? If they convert say 30% of their "pipeline" at $16k each - it will never even come close to break even.
I'll be watching this one closely - but my first impressive was a strong pass for me.
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- IPO - Felix Group Holdings Ltd - 12 January 2021 #
Thanks! Yeah I usually don't invest in these small scale tech...
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