Could the announcement below have something to do with the strength in CUS over the past two days.
I looked into buying there machines awhile ago but found they are ripping off the investors with false promises.
My ATM charges users of there machines $2 to $2.50 per transaction but the investor or owner of the machine only receives 20 cents. Looking into it further an ATM needs to be used 1000 times a month to generate more than $200 via the 20c cut.
The average among MyATM's 150 most established sites is 700 (or $140 to an owner) some do 150, a very small number do 2000.
Anyone considering buying a machine would be way better off buying an equivalent amount of shares in CUS lol.
Today ASIC have banned the IPO of MyATM on concerns over their accounts disclosure.
Previously the sharemarket float of My ATM, backed by former federal Liberal politicians including Ross Cameron, had been suspended.
In a prospectus dated June 18, My ATM aimed to raise up to $10 million from as many as 5000 investors.
But on July 2 the Australian Securities and Investments Commission made an interim order that halted the float.
ASIC's specific concerns are unknown but they are understood to relate to the need for greater disclosure on promises My ATM has made to buyers of its cash machines.
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