Been keeping an eye on this also. The volumes are abysmal so I wouldnt read too much in to it, it literally moved 1.5 cents on $3000 in one session which represented a 10% move. Ón another day it moved 0.7/cent on $287!I am not sure of the underlying current fundamentals in terms of revenue and the UK expansion but the stock remains reasonably tightly held by long term holders. That said, would have thought that people might to start picking shares up at current valuation give what Tradify have just done (Tradify being the competition). They raised last year at a $55mio valuation and again recently at circa $100mio valuation so this looks like low hanging fruit if you believe in the sector and the software.
Personally, I quite like this and at current levels will start having a go
Management's failure to say when they would stop cash burn chasing growth, and be cashflow positive, certainly stopped me adding to the wife's extremely modest holding.
NBR - The chief executive of NZX-listed software-as-a-service provider Geo has admitted the company’s half-year results were disappointing but reckoned the company has never been in better shape, and would be soon asking investors for more capital.
Apparently Pioneer going to pump in $2.5m at 13.5% and they look to other investors for another $1m
Last raise was at 13 çents in Oct 2021 …share price now 4 çents …ouch
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Something not right with this company as it stands and I would be very interested to go back a year or two and check some of the statements and assertions that Tim Molloy made to investors. It doesnt feel as though the full picture may have been presented as well as it should have at the time..... this does not pass the sniff test!
Snodgrass also leaving is strange given how much he 'pumped' this thing verbally.... luckily, I sold some of my holding down (not enough though) after these guys couldnt answer simple questions at the AGM. Real amateurs involved here
NZ RegCo advises that, at the request of the Geo Limited (“GEO”), it has placed a trading halt on GEO ordinary shares. The trading halt was placed at premarket open today, Tuesday, 7 November 2023.
GEO has applied for the trading halt while it considers updates to its market guidance, and also its strategic review as announced on 29 August 2023.
The trading halt will remain in place for up to two trading days until the earlier of GEO publishing a market update, or market open on Thursday, 9 November 2023.
Reply With Quote
Originally Posted by winner69
Bookmarks