Ooh such cynicism..
The use of the word " maiden " should be taken with a very large pinch of salt from this " Old Crone " of the NZX..
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IoT increasingly in the news.
Economist 14 September - How the world will change as computers spread into everyday objects
These headings from Motley Fool 14 September
1. IoT devices will soon account for more than two-thirds of the AI chip market
2. 5G is accelerating IoT innovation
3. Companies are using new IoT devices to boost existing their existing businesses
http://www.fool.com/investing/2019/0...-mind-abo.aspx
Nine months ended 30 September 2019 2018 Change
Revenue $45.9m $40.7m +13%
Wellington Connect IoT Revenue $17.5m $12.7m +38%
Wellington ECR Motors $27.0m $26.6m +1%
ECR2 Motor Revenue $16.6m $12.1m +41%
Legacy ECR Motor Revenue $10.4m $14.5m -30%
Gross profit $11.9m $9.9m +20%
Gross margin % 26.0% 24.4% +1.6pp
EBITDA reported $3.10m $1.11m +179%
EBITDA pre fair value adjustment $2.67m $1.11m +140%
EBIT $1.30m ($0.22m) +$1.52m
Profit (loss) before taxation $0.58m ($0.77m) +$1.35m
Looking good going forward.
.......some seriously healthy gains made there...plus 179% in EBITA etc
Back to the bad old days , a C R of 1/5 @ .10, imho the current S P will slide now, money is to fund business opportunities , hmmm heard that before!
The previous $123m of cash punters have thrown in over the years haven’t produced much ....so another $5m odd is just a top up
Patience the key
......ill be in on this for sure 100%. Best prospects on the NZX..........right place, right time, all boxes ticked ready for lift off. (already begun) Amazing discount for existing shareholders and those raised funds should be returning 20-25% to the company in a year or sooner. Contracts already in place,...What could go wrong?