I was looking more closely at the financials.
On the positives...big rebound in 2022 due to covid restrictions being lifted. Cash in bank as mentioned. Cash flow positive with plenty of working capital on hand with the MD stating that future forecasts point to no CR required. Established business with $40+ mill revenue. Should be easy to cut costs and turn a profit
Negatives are Indonesia being its sole income source. I have lived here 10 years and know how tenuous agreements and businesses can be here. I actually think the will do a CR to firm up the balance sheet. Only my opinion. The debt is $11mill and consists of bank and private finance, both short and long term. Thus my feelings that a CR will happen and probably a big reason for the re-listing.
Otherwise, I still feel there will be multiple % returns from this level, so happy to sit on them anything from a few months to a year or so and then reassess how they look.
Hoping for 1.2c next week and a MC around $10-12 mill within 6 months.
Milesy
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