Market cap @8c = $6.3m
Cash: $4.4m end of March Quarter, net burn of approx $450k a quarter, so roughly $4m left in the kitty
EV: $1.9m
Target Price: 20c+
MyFiziq is an app on the iPhone that allows users to create a personal avatar, that will contain and allow them to compare over time the measurements of their major body parts, being the chest, waist, hips and thighs. It originally listed at 20c early last year, but continued delays resulted in the s.p. dropping, and at one point (a few weeks ago) was trading below cash backing.
The MyFiziq App has finally been submitted to the Apple Store for review, and is expected to launch soon. The finished version 1 of the App is by far more advanced in tech specs and accuracy, and aesthetically pleasing than it's original.
Where could the S.P end up? It has a good chance of going back to it's listing price of 20c. However, if they land a deal say with a strategic partner (think: weight watchers, jenny craig, fitness first...) this could be quite a successful app.
Still waiting for launch so that I can play with it in full, but so far, looks like it might finally deliver the goods!
