I think this was actually priced very well, especially compared...

I think this was actually priced very well, especially compared to Playside Studios. They have a solid contract pipeline that will result in at least $14m revenue in FY22 but it could very well be more than that. MKL was matching up at 46 cents before the sell orders came flying in just before day one open. The selling pressure was from one fund who had convertible notes at 24 cents that they dumped at open on IPO day (dogs). All the major backers are still in it - Regal Funds, Alium Capital and Wunala Capital have not sold a single share, neither has the founder. The lead manager (CCZ Statton) and the Corporate Advisor (Adelaide Equity) have been soaking up a lot of shares. MKL current EV/REV multiple 3.88x while Playside’s is 8.9x (trading at over 13x for most of the past 5 months. MKL HY REV $2.9m, PLY HY REV $5.8m. With the news flow coming in the next few weeks this stock will turn fast.