I'd be vary wary of Israeli companies on the ASX. Meir Moalem (CEO of SAS) said in an interview on BBC that they didn't have to go the traditional route of funding their start up. They originally met with Australian investors who were looking for companies in Israel and rather than provide seed capital or such they're listing them on the ASX from day dot as a way to raise seed capital from ordinary retail investors.
I feel like they're intentionally looking at Israeli startups to list on the ASX. Negotiate their share of the equity to list the company on the ASX and use the money raised in the IPO as seed capital, significantly de-risking themselves in the process.
Anything with marketing potential to raise funds in an IPO could be a target regardless of the competence of the company.
That's what stinks about this to me, UTR is the same story as WBT, supposedly cutting edge tech from the best in the business with connections far and wide. Just seems too good to be true.
For that i will pass.
But i honestly do hope i am completely wrong as i wish all the best to all holders of UTR. Just too much risk or me.
Take care
UTR Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
