I do think it's an over reaction however it does highlight the fact that Mgt are very early on in their learning curve of operating a listed company as opposed to a private company. My thoughts on the release of the financials, restructure and impact on valuation are:
1. The restructure highlights John Boardman thought he got shafted out of his 6,000,000 performance hurdle shares for not generating $1.92m in profit due to Mgt/Board not understanding the impact of a change in ownership giving rise to Intangible assets i.e. contract/relationships and the associated expense going through the P&L. The issue of the 27,000,000 options therefore dilutes existing shareholders by about 4% however in return, we get John Boardman locked in for 4 years.
2. Paul Simmons obviously mis-calculated some expenses and as a consequence has reduced the purchase consideration by $350k.
When combining these two, I think they go close (albeit only just) to being square.
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Last
0.4¢ |
Change
0.001(33.3%) |
Mkt cap ! $792.3K |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.4¢ | $6.759K | 1.689M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 462653 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 2740348 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 262653 | 0.004 |
4 | 6691937 | 0.003 |
7 | 12383500 | 0.002 |
8 | 39773599 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 2740348 | 3 |
0.006 | 1255882 | 2 |
0.007 | 2840949 | 2 |
0.008 | 500000 | 1 |
0.010 | 400000 | 1 |
Last trade - 15.36pm 19/07/2024 (20 minute delay) ? |
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