By "flooding everyone's email inbox" do you mean them literally just notifying of a new offer? I came across this yesterday because I got their text. How else are people like us supposed to know about it?
And to the other poster who commented that this company has been around for 10 years and still with low sales, I agree. Then last night looked into BUB a bit more, specifically at IPO to compare - they were founded in 2005 and listed at a similar valuation with trivial revenue. Just my opinion but this has the potential to do well just on hype alone, given the $11m EV in a high growth sector.
And we only need to look at SPT for empirical evidence of a recent listing that valuations can run extremely high with low revenue. End of the day this is the spec end of the market.
Application form, page-19
Currently unlisted. Proposed listing date: 3 APRIL 2019 #