Looks like so far they have only Woodside as a client which...

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    Looks like so far they have only Woodside as a client which ofcorse is a big validation. It's a multi-year agreement signed this year in Jan. They have entered into a partnership agreement with some US based company. Options to be issued at 25 and 30 cents above and lead manager's options totaling around 3.5 mil (diluting shares). Escrow details not mentioned in prospectus which will be revealed before listing. Around 61% holding by management it seems.
    Could not find the economics such as percentage of returns (whether or not it is capital intensive)
    Positive is that they are raising to expand further.
    Losses increased last fy 2021 which is understandable due to increased marketing and personnel spending.
    Valuation is decent around $15-16 mil EV based on FY21 revenues of around $4.5 mil.
    Can they maintain this growth rate from low base depends on winning more deals.
    Technology seems promising. Need to find competitors in this space?
    Need to check the profile of management?
    I believe pre-ipo raise must have been done at 16 cents. Need to check?
    Given the pre-IPO was 3 times oversubscribed, not all of them would be dumping on day one especially with revenues growing and potential large TAM. Also MAC Equities would not encourage dumping on day one?
    Looking forward for any further info, positives and/or negatives from other HC posters.
    Haven't decided yet.
 
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