NB
Don't worry about the current IPO timetable. There is plenty of time to float in Q4 (say by late Nov and hopefully much earlier). Management has clearly stated on several occasions that not only do they not need to announce the IPO kick-off but they won't as their intentions have already been announced. That means from the time we (officially) hear about the flat timetable, it will be only 13 weeks before trade starts.
Gatekeeper is now available as I understand the situation and so orders can be filled.
Duttons are overdue with their report. I expected it 2 weeks ago but that's life. Karmann have been developing the application for the convertibles using the high strength ring grip fastener. There will be 400k of these expensive units used in their next platform. Since that platform falls within the next 3 years the total value will be incorporated in the CS valuation for IPO in the prospectus. Once an application is locked into a platform it is money in the bank. We are going to be very pleasantly surprised at the size of the applications booked over the next 3 years. The valuation will be based on a paltry pe applying to the ASX since we are currently listed here and that will be the industry average. All clients offered placements on the basis of a low pe will be expecting an immediate hefty profit once listing is achieved since there is no way a pe of 17-19 will apply on NASDAQ. If the orders received are as large as I expect then the expectation of rapid future growth as other customers are added will send the pe soaring. Once listed we will see announcements to support but why do it before the big splash is needed?
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