Correct. I know the promoter of this IPO (based in Wellington) and so had a look at the financials. Unless that paltry revenue of a mill or so grows dramatically, then the MCap is totally not justified. At these prices, it looks like a great short to me. But the shareholders including Sir Owen Glenn, do look quite formidable.
Share price just dipped below a dollar, would have been a great short indeed.
Originally Posted by blackcap
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