Lol, well you know about the site now if you return there sometime. Yes indeed, volume is the thing – musn’t forget also that out of their 15% cut, some of that will also go towards their payment-processing facility. I’m sure I read a while ago who they’re using for that (might even have posted it here too) but detail escapes me. Either way, 1-million members out of circa 65M population in the UK offers growth opportunity for PrelovedUK which has a natural benefit to WFM obviously. I remind myself that Facebook started with just one college…
Those 6 buy orders at 4.5c – as this is a small-cap stock, I ignore that mostly. Same goes for the odd 1,000 – 1,500 shares that get traded most mornings first thing.
My interest here is that they’re in a growth industry and seem to be ticking the right boxes so far.
Management about to be improved soon as well – experienced in opening offices in non-english speaking countries.
Today’s announcement was a little confusing at first – the cancellation of 8.5M options which didn’t expire until Jan 2013 ? It seems they must relate to the director (Anthony DuPreez) who left in March this year. He had this exact number so he must have been allowed 6 months from termination of being a director to still exercise them..time's up mate..lol..dyor as usual.
Still, it takes out a nice big chunk of the 65.3M options that are listed for exercise over the next coupla years – around 12% of them – though Ian Lowe (new CEO starting next Monday) has a similar amount available now BUT these are based on share-price performance milestones for the most part, starting at 10c...
Lets see how he gets on eh..
WFM Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
