this stock might go down in nz history as the biggest ipo flop ever?
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this stock might go down in nz history as the biggest ipo flop ever?
whats the true value here considering its financials, track record and prospects ?
I've got the munchies.....oh, it is lunchtime......
For me currently I'd value them at $15 million, considering the cash they have, the risk involved particularly no revenue, they have some good intellectuals onboard, but as the stock market will always point out its about future cashflows and theres a lot of doubt we'd see any anytime soon. They will lose a ton of money in R & D and then if they have products the time it takes to sell and gaining traction will be tough on them too.
Yeah 15m there is a better number (-70%) - but 50! and most went to the two people. I think shareholders might have needed a bit more skin in the game than that.
-28% at the moment - good to see the market represent a better value in this. ~40 mill
-50%-75% and maybe I'll be interested. Or will wait to see how they intent to jusitify current value.
Try zero for the original shareholders/founders of the company - 58.1m shares (now worth magically $29.05m at IPO price of 50c).
Try 8.6c for the 13.9m shares issued to the promoters.
So the idiots who paid 50c for the IPO shares were/are paying 5.8 times (580% more) than the promoters.
And as Brian Gaynor highlighted in his article, there's no escrow arrangement so they are free to sell out day 1 - which they probably already are.
Why do and why should they care about the idiots who willingly parted $10m for less than 20% of the company?
https://www.nzherald.co.nz/business/...ectid=12241768
https://www.newshub.co.nz/home/money...n-the-nzx.html
Get excited - the company aims to be a world leader.
Looking forward to the many congratulatory photos of the NZX welcoming its first IPO since forever.
Calling MARK PETERSON & JAMES MILLER! Where are you both????????
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