NOV 0.00% 3.2¢ novatti group limited

I can't seem to find the information about the $3m cost of the...

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  1. 197 Posts.
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    I can't seem to find the information about the $3m cost of the restricted banking licence - or whether they just had to hold $3m in cash?

    Think it might have been in an interview with Peter Cook a few months ago from memory?

    Again from memory, I think the full banking licence requires cash in bank of $50m - but be great if someone can clarify this?

    Either way, NOV is growing revenues fast (think it will be $8m + this year), it has approximately $4.0m in the bank / no debt, it is now close to cash flow break even, and it is hopefully well on its way to getting a restricted bank licence.

    And all of their announcements / investor updates are professional, easy to read etc

    There is a lot to like about this company.
 
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