As said I'm out. I see this company continuing its comedy of errors. Latest comments seem pretty right. It looks like the HuB24 guys have totally stuffed this.
from the looks of it, say they have $300m FUA by Jun and $500m at the end of June 2013. Av $400m FUA at say 22bps = annualised revenues of less than $900k. With ongoing costs in HUB of say $3.5m, still good losses coming.
they will have to pay out marketsplus too. will be looking for more cash in the next 6 months.
my opinion only
As said I'm out. I see this company continuing its comedy of...
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