Traded at IPO price before today's drop.Roughly ~350k shares traded thus far, versus 2.5m unescrowed Con Note holders (in at 14c) plus 583k broker freebies (Novus not known for broker support).I decided to take a deeper look.Whilst I prefer organic growth to acqua growth I can understand the ease of doing acquas, and from SH perspective the play is to arbitrage the public and private markets.But I'm not a fan of the KDC acquisition - FCG will at best always be a minority SH (29% up to 49%) - why would they want to be a minority SH?? Plus price paid (values KDC at $5m) seems steep - they don't provide KDC numbers but state KDC "is not considered a significant business acquisition to the Company or Freedom Care on the basis it will not account for more than 25% of the Company’s annual revenue, annual income, EBITDA, total assets or total equity".
Back-of-the-envelope calcs suggests they've already broken price point for acquas, and to become a minority SH.
IMO preference should be to fully own acquas and grow at reasonable pace.Also gotta be conscious of the political aspect here - NDIS in focus - AFR did an article focusing on rising compliance costs and call for independent pricing authority.
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14.5¢ |
Change
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Mkt cap ! $3.463M |
Open | High | Low | Value | Volume |
14.5¢ | 14.5¢ | 14.5¢ | $5 | 32 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 1000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 49968 | 0.145 |
1 | 142714 | 0.140 |
1 | 71673 | 0.130 |
2 | 506250 | 0.080 |
1 | 25000 | 0.079 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 1000 | 1 |
0.180 | 100000 | 1 |
0.185 | 104 | 1 |
0.190 | 71429 | 3 |
0.200 | 102149 | 3 |
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