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1.43%

7.1¢ 99 wuxian limited

Can anyone explain why it is trading under 55cents when it was 5...

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LZA

1,855 Posts.

12/08/14

09:09

Post #: 13802993
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Originally posted by scrixy5 ↑

30M is only 5% capital raised, it actually wasn't a big raise.
The money is primarily being used for joint marketing operations with the top banks in which NNW is embedded with. You need to remember that we are talking about 300 million users that have the App but require activating. That's more than 10x our entire population, it is going to require some sizeable cash.
The rest of the cash is being used to create more functions for the 99 Wuxian market place such as paying for goods via credit card reward points.
As for hitting growth boundries check the latest growth figures, doesn't look slow to me yet.

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Can anyone explain why it is trading under 55cents when it was 5 times over subscribed for the capital raising? initially it jumped up and now down, go figure??

NNW Price at posting: 52.0¢ Sentiment: None Disclosure: Held
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