POK (ASX) Just get reply from Dave

Originally posted by abdm ↑

Hi sunlover,

- Due diligence will be completed in 7 days
- There are only 121m shares on issue
- No consolidation is required

Not sure what ANK stands for, but if you're referring to the AZK pump and dump, this can be explained quite simply, and it appears that even ASIC may finally be on the ball now...

View attachment 86801

The same can be said for PSY which I last posted on 26/02/2015 when it was trading @ 26.5c...

As Australia's resources sector transitions from boom to bust we are going to continue seeing this growing trend of tech company reverse mergers with Oz mining shells, so for serious long term investors it's vitally important that we know how to sort out the wheat from the chaff.

For this reason Buddy Limited should really only be compared to 1-Page Limited which listed on the ASX in October 2014. Even though both companies have very different business models (and I personally believe that Buddy has significantly more promise), both companies are backed by US Venture Capital which places them in a league well beyond many of the recent and upcoming dime-a-dozen dubious back-door listings on the ASX. The US VC's behind 1-Page were initially very concerned over it's intentions to list on the ASX because many US VC's consider the ASX to be a second-tier stock exchange (i.e. less rigorous regulation - like Nigeria). Remember, VC's often specialize in the same area of the companies they choose to invest, and are looking for the best possible return on their long term investments. All shares issued to these guys in a reverse merger transaction have restrictions placed on them meaning that they will not be able to sell until the specified period of 2 years has elapsed, referred to as the period of escrow.

The last thing in the world these astute investors want is for the companies they invest in to be listed on a stock exchange with a dubious reputation supported by investors that can't tell the different between a re-evaluation fraud and high quality tech start-up from one of the top global tech hubs in the world.

- Buddy have already inked deals with some of the largest companies on the planet
- Buddy have already developed and launched products
- Buddy have already attracted VC funds
- Buddy are already earning revenue

There we go - we've just obliterated 99% of Buddy's recently listed ASX tech peers, and Buddy hasn't even been listed yet

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All buddy requires in the not foreseen distant future to be taken over by the King of Data Google! or maybe Microsoft.

That would seriously set the fire.

Small fry circling around the serious heavy weighted titans of the global tech industry.

That would be nice!

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