STTCOMP RFN, FA Long
REFFIND LIMITED
SP: 4.5c
MC: $ 23.1mil
Cash: $3.65mil
Shares: 515,500,000
RFN was pumped to about 36c (current dilution) by broker coverage since launching in 2015.
Since then the company has certainly had its challenges and with the removal of A LOT of costs, management, and renew strategy RFN is definitely a new company looking to make some moves.
They are actively looking for block chain investment, and/or supporting business acquisition for current products.
On 19/01 only a few weeks after new CEO was engaged REFFIND has entered into a binding term sheet for a strategic investment of up to US$2.3m in US blockchain leader for the global loyalty market – Loyyal Corporation - complete by 15/01/2018
• On completion the proposed transaction will result in an equity stake in Loyyal of between 12.8% - 14.8% positioning REFFIND as a major Loyyal strategic shareholder. Also REFFIND will get a board seat on Loyyal.
I believe RFN has near term multi-bag potential on the acquisition news alone due to current value, but I also believe their product range and network could potentially create synergy with blockchain tech and bring in additional revenue. Whether it is Loyyal, () or off existing Wooboard customers...
Chart is also primed and noticed another poster covered this.
I have been buying last few weeks but for transparency am focused on buying a lot more.
