what is the gcn story, page-6

mikey P1 put a face value of 30 cents on it
they have been working on this for a while

the 30 cents may look like a stab in the dark but this becomes part of the listing compliance, hence the valuation by an accountancy firm

you see they are not doing an IPO, so to comply with listing they need a shareholder spread of 500 or more each with $2k worth of P1 stock,
so the formula was worked out how much stock to give GCN holders in order to satisfy the $2k worth of stock.

now companies can get brokers to do a valuation and that means little sometimes,
but this valuation has to go to the ASX for approval in order to allow them to list.

So this valuation is taking more time as it becomes an official part of the listing compliance and they have to prove to the ASX that this valuation has merit, unlike a broker one which is not scrutinized

Yes about $300 mill,
compared to Groupon who has a market cap of around $15 bill

I think it will not long be much more than $300 mill, which means GCN should be as well.

st present GCN is $38 mill