Anyone know much about this one? Saw it on the ASIC site. Haven't gone through prospectus properly as yet, so no verdict from me, but skimmed over these points.
*Infant and adult milk formula, dried dairy, protein supplements (CNCA cert)
*25-40m shares at 20c each. 50m existing shares. Market cap $16-19.5m on listing (non-diluted).
*Alexander Molyneux among directors (isn't his focus more mining?)
*PAC Partners leading the float (last gig was FIJ if I'm not mistaken?).
*Multiple agreements signed
* Heavy losses, which widened despite revenue growing
*CEO salary has jumped from $54k to $150k to $253.2k across FY17-FY19
*CFO pulling in $200k as well (combined, CEO/CFO salaries more than sales revenue to date)
*Performance rights targets based on growing revenue, albeit two tranches based on a threshold EBITDA of -1.5m and then $0m....(is that suggesting they may run at a loss even with significantly higher revenue?)
*As an aside, probably the shortest "letter from the board" intro I've ever seen in a prospectus
