Seeing the upside

There are a lot of negatives written about Veris and they are quite valid as the company has had a very painful history. It is of course difficult to turn around a damaged business, leastwise when we are dealing with Covid19. However, I see signs of a turnaround by the new management team who are highly qualified. The new board of directors also look solid.

The current Veris market cap of $35M is very low for this company. The Aqura business itself is worth about $20M in a trade sale. The turnaround of the Veris Australia surveying business is key to us shareholders. It is a consultancy practice and having run a consultancy practice myself I see many positives underway although the benefits are not fully evident.

Taking a step back, the current ASX is fully valued, some would say over-valued, and there is a systemic risk for shareholders buying in a fully valued market. The reason I like Veris is that I believe the company management is turning the company around, and the current market cap is very low as is typical with unloved companies. That said, as the shoots of success begin to appear, the market will respond accordingly.

The strong support by institutions and professional investors in the recent $7M fundraise suggests that there are a number of professionals that see the real upside. To me, IMO, this stock is an exciting 3-4 year hold that should produce excellent returns. I bought more Veris shares today as I believe in its future.

I thought that in light of the negatives posted on this site, that I would provide a counterbalance with my views. Hopefully in a world of free speech, my views will be excepted for what they are, ‘’my views.’’