Gee you have to wonder who's been trying to push this...

Gee you have to wonder who's been trying to push this stock/company down. You talk to just about every competitor platform out there and they've been trying to kill this company, fuelling rumours and some of the negative views on the earlier survival of the business.

A clever CEO at another larger institution would have taken over INQ by now for around $15m Enterprise Value - instead of trying to build/rebuild their own 4th generation platform costing around $50m.

Instead they've got to contend with upgrades on their existing legacy platforms (bolt-on's) to build similar capabilities as Hub24 - and to get internal funding for these projects when you have outflows of FUM - good luck.

So it will be interesting to see who is disclosed as being the 2 new institutional shareholders who took up positions in this recent placement. Lets see who's finally got their head out of the sand.

As for INQ itself, the Stockbroking arm was burning a lot of operating cashflow, the Hub24 Super was burning a lot of time and capital, they've unlocked some additional cash in offloading the stockbroking side plus just raised these new funds. FUM is building rapidly as financial advisers and brokers realise that there isnt really anything that compares to this platform.

And the Hub24Super platform is also only in its infancy. So it will be interesting to see the FUM build in here over the next few years.

Its going to be an interesting one to watch over the coming years.