Ok.. I have taken a brief look and my thoughts are as follows:
1. Does not give a quick overall explanation of the offer (eg. Shares being offered, existing shares, total market cap, options outstanding).. matter of fact it is really lacking
2. Minimum subscription is $1m and up to $6mil/. Now take a loot at their profit and loss. Loss for last period 1.7m and cashoutflow (excluding capital raisings) was over 2mil. Even though receipts should grow significantly as they now have like 150k users (at 1.25 a month), still reckon with increased costs (eg staff and sales) that 1 mill could get swallowed very quickly (IE... another CR in 6 months)
3. The Prospectus overall lacks professionalism, looks like they have scanned their financial reports in
4. No forecasts given and this may have really helped the sales job.. people may look at receipts/revenue up to June this year and think it iss too early.. when from a more thorough look at it, it will grow by 1000%.
I will give this one a miss unless they can sell it better and be clearer on what the overall offer is.
