Hey ric, do you have $10M sitting around looking for a home? whether Kris approached Ward Ferry or vice versa, he obviously felt that the capital could be used by Ensogo to progress things, and I am hoping like hell that we can increase our customer base, because if we can piggy back from VIPshop, with their logistics and suppliers, PLUS we have a stronger customer base, then that spells monster revenues to me, which should lead to profits. Once Ensogo becomes profitable, look out, this wont be valued under $100m for to long. All we need is a few more funds to buy in, that have a low risk profile and want to invest in solid profit making businesses, we should be away. VIPshop to buy us out within 2/3 years is my bet. take our customer base with them, and reap the rewards for their own shareholders.
You could have a worse investment strategy than to follow asian money, and we've just had 2 groups throw big wads of cash our way..
E88 Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held