Seems you were not the only one! Anything in particular that put you off? Seems things are going in the right direction but end results was poor due to acquisition of Mission Providence. Would appreciate any further thoughts.
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A few things I did not like.
I noticed a few weeks ago the chart showed a steady down trend,however I thought I would wait for the result,before deciding what to do.
Number of shares on issue increased 45%.
NPAT [before amortisation] up only 16% to $1.92 mil from $1.75mil.
eps gone from positive 2.45 cps to -[1.33] cps.
$1.7 mil lower revenues from existing business and lower margins.
The balance sheet does not look good, with the huge increase in intangible assets.Net assets are shown as $28.9 mil, yet if you deduct the $46mil of intangibles, you have negative equity of -[$17.1mil].
It is worrying that current liabilities are extremely high at $31.9mil, compared to current assets ,including cash, of only $19.4mil.
Cash flow is also negative.
Thanks percy. I will see how it plays out as it seems many of those issues relate to the acquisition, next result should give a better idea on its future contribution - and hopefully a better result.
I think they may come right but im not prepared to hang around that long or take the risk. I will be out prob monday, i may get a little more price wise after the rush out today, biggest vol in nearly 2 years
Anyone still holding this one? It's more than halved since the last posts...
Looks like any holders will be bought out soon! Happy to get out with a small profit.
https://www.asx.com.au/asxpdf/201910...s84qrdr2p8.pdf
We got lucky.!!