The investors in FRUGL (FGL) also have concerns regarding the arrangement between FGL and IVO. FGL have just appointed IVO to manage a CR.
FGL's performance has been a disappointment IMO, I have just dropped my holdings today. This organisation continually changes its ASX listing name, continually raises capital with no result. It has never ever generated revenue. It just keeps coming up with new ideas to sell to investors that go nowhere and appear to be eventually shut down.
I have dropped my holding in FGL today.
According to one of my HC colleagues:
IVO has not traded since 2019, no cash but access to a loan facility and 5 months to date are losing ($309,000), It does not appear to be a high performing organisation and that's concerning.
The arrangement seems very unusual to me and that is why I have opted out of my holdings
Okane
The above is simply my opinion, do your own research
IVO Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held
