WNX Quarterly update, I've written some notes below
Key Points - Record cash inflows from brand sales (WNX owned brands) for the quarter - Operating profit of $500,000 - Cash receipts @ $4.9M for the quarter, up 56% from the prior quarter - 122% rise in margins for the prior 6 months of trading compared to the previous 6 months - $1.35M spent on the purchase of 12 months supply of both ingredients + packaging for its Pain Away products, along with its new Wakey Wakey products - The 2 new Wakey Wakey products are now in major pharmacies and supermarkets as of July - Wellness Life was successfully launched last month and has commenced sales
For the LSE listing to go ahead (according to minimum requirements to list on the LSE), the market cap has to be a minimum of £30M, which is equivalent to $59M AUD
The current market cap of Wellnex on the ASX is $30M (1,302,489,789 x .023)
For the ASX listing to match the minimum requirements of the LSE, the share price on the ASX would have to be 4.5/4.6c (1,302,489,789 x .045) = $58.6M
Meaning, the share price would have to double from this current price point for the listing to go ahead in September
The company has outlined that they are 'well advanced' on a dual listing on the main board of the London Stock Exchange
