I'll preface this by congratulating Jason, his wife and the rest of the team, for putting in a lot of hard work, it's obvious that non only a lot has been achieved in the past 6 months but some key milestones have been delivered:
-The business is now safe -with loan facility renewed and consecutive months being cash flow positive!
- It has saved a ton of money by shutting down bad stores, cutting on frivolous expenses, rationalising operating costs...
-The business has been cleaned out - delay in reporting shows there were skeletons and it was confirmed in an ann that accounting wasn't an easy transition from the old management to the new one.
- The business has renewed energy and focus, with clearly an emphasis of having the right people in the right positions
- The market is starting to come back to support (the buy side is now pretty strong, as is the recent action)
- Jason has committed to holding onto his shares and published a trading policy to reassure the market
- And finally, it has communicated with transparency, honesty, integrity and DELIVERED.
This is a huge achievement. A turn around in pretty much 6 months.
All of us who saw this coming are sitting on a huge short term potential profit - From 2c to 5c in 6 months - and looking at the 9c 12c and 24c levels with confidence. It feels good to be right, sure, but doesn't it feel good to support people who want food to be clean? and save jobs?
All the others who either confessed to having booked a loss from the pre-turn around time / old management or either simply didn't see the opportunity have lost an opportunity and this should be a good lesson.
I feel this is setting up to boom on the next good news. Not sure, what Jason and co are cooking but the market is starting to expect something.
it's time to move on, home deliveries, selling in other outlets, strong network of stores... If you look at how much money has been saved in the latest report, all of that ALONE, can turn around the year's results. I expect everything else will get better.
New menus, new ideas, new business model/ operations, new savings, new people... Now the business is safe, it's time to catch up on lost time and get this business valued to the same Mcap per store value as it was during IPO.
Good luck to newcomers, good luck to all of us who are handsomely rewarded for making a move when everybody was bearish and good luck to those who still believe this is not happening, I say good luck because managing the increasing cognitive dissonance mental burden as OLI SPs keep moving upward will not be easy. You can still join the winning side and make back some of the money lost.
Do your research, this is a complex situation, nobody has the full information, but facts are there. What a turn around. Congrats to all involved.
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I'll preface this by congratulating Jason, his wife and the rest...
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Mkt cap ! $4.848M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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1.4¢ | 234856 | 1 |
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4 | 350099 | 0.010 |
3 | 557766 | 0.009 |
2 | 182523 | 0.008 |
1 | 200000 | 0.007 |
Price($) | Vol. | No. |
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0.014 | 234856 | 1 |
0.015 | 661623 | 3 |
0.016 | 1200000 | 2 |
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