I believe Thred was introduced to Promesa through a gentleman by the name of Dean Bannister.
Why did Promesa go tech specifically?.. Or Thred specifically? Mining is not profitable for small players under current price pressures so companies like this are having to seek alternative investment strategies to stay afloat. Why ASX? Because Australia is the perfect hub for tech companies trying to link East/West globally. We have developed an ecosystem where funding support has established itself here. In other words we have matured to a point where tech can flourish in our own backyard.
But this isn't just another tech like XTV or 1PG or SRO its bigger than those. Well it has the potential to be much bigger than those combined imo. Bigger target market & inherent virality model. Plus AI & ML which is right up MS alley. MS have money to burn to gain market share in the consumer and mobile space. That's a good thing for us. The last tech company acquired by MS was $200mm and took place around two weeks (or was it months) after they announced the partnership if my memory serves me correctly..
PRA Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
