Mr Bosanac said his company had plenty of suitors when it was out trying to raise money.
“We have been courted over the past few months by a number of parties offering to inject capital into MyFiziq,” he said.
“Our main resistance has been finding the right partner with more than just capital but also significant investor and industry support. Dato Liew has an extensive background in the capital markets and brings a large following from his own investment community and business leaders.”
Dato Sri Liew, director of Asia Cornerstone Asset Management (ACAM), said a chat and demonstration with MyFiziq CEO Vlado Bosanac was all it took to convince him to invest $6 million in the Aussie small cap.
“I was very impressed with its capabilities and market opportunities. Like many technology companies that are outside of the main arena of the Valley or US in general it has been both underestimated and certainly undervalued,” he said.
“We feel the premium is a fair entry point for the stake we wanted to acquire in the company. We are very pleased to have consummated this position as we intend to assist MyFiziq grow globally across its many market verticals.”
I don't know why people lose their minds about some of these things... the whole deal is perfectly reasonable and so is the investor - https://www.acam.com.hk/about-us. People need to put away the tin foil hats, not everything is an undercover stitch up.
This stock has some pretty decent fundamentals (well, certainty some interesting tech and I know there is opportunity in this market as I work in healthcare sector). Share price was lifted in part and dropped heavily this afternoon primarily due to traders (DT thread had MYQ in lights) or perhaps those not willing to endue the swings - the lack of liquidity will always make people panic on big moves, part of the parcel with these plats. Perfect STT opportunity here at the very least in my opinion, and long term potential? Well, Dato Sri Liew certainty thinks so.
MYQ Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held