I have consistently cautioned people about stocks with a large share base. SAS is one such company with a bloated share base and FBR is another. As you can see below, FBR recently raised $17m through the issuance of close to 162m shares at 10.5c and as a result, its shares in issue is now 1.4 billion and despite its penny share price just under 10c, it is valued at $138m. No revenues thus far, only a technology that may well be ahead of its time. Compare that against a proven globally successful* tech in Catapult with $86m annual revenues and a $166m market cap, and you can figure that FBR is too rich for its progress to date.
* global success as measured by the adoption of its wearables by global marquee sporting teams.
Column 1
Column 2
Column 3
0
FBR
1
Before Placement
After Placement
2
Shares on issue [excl. performance shrs and Options]
