When this company floats, I told myself, it's going to be...

When this company floats, I told myself, it's going to be another dud business.

You don't need to look at their IPO and you know they just won't make it.

Walk into their stores, hardly any customers there.
Low sales turn around, how often do you change or upgrade your vc like mobile phones?
Operating in niche market but it's a super slow growing one. Hard to make any meaningful revenue.
Subject to price pressure. VC is pretty much a commodity. You buy where the cheapest price is.

How the business can be sustainable in the long run is a big big question mark. With such an unfavourable economics in front of the company, and without any changes to their current business model, I seriously doubt the business can be turned around easily, even with a brilliant management.

Better stay away from this stock for the time being IMO.