too pricey, page-15

You do realise if this business were raising privately, it would be valued at 1/20th its current value at best...

This whole listing is just a way for Ron Brierley and his mates to just cash in as soon as possible when their stock comes out of escrow, and the value normalise to a multiple of PE... These shares are worth 30-40cents at best... and thats being generous.

Look at Flexi rent, its trading at 7X PE... it does $250m Revenue and makes $83m profit, has a book well of $1bn and its valued at $750m market Cap... AFY has done barely a million dollars to date ( so under 1/100th the size) ... and is trading at >$400m haha its laughable.

Whats more silly is, they would basically be on the cusp of raising either more debt or equity, because if they now have an exposure of $15-$20m they would basically have no money left... Just think about how many times they will have to dilute to get to $1bn book.

Also, another stupid anomaly is that Touch Payments owns 35-40% of AFY... does $50m in recurring revenue and owns the technology...and have a market cap half of AFY... just think about that for a second... its a complete financial impossibility and highlights how much this share is trading purely on sentiment!