The majority of the shares are owned by the Chinese in china. I find it hard to believe any of the numbers they are reporting or any chinese company reporting numbers to the ASX . There is no real clarity imo on their business model or its exclusivity to offer its services. Its basically a reseller and clips a small margin but that business model may become obsolete when others compete or take away their rights to offer these services.
Why are they even still listed here on the ASX. What happened to their plans to list elsewhere.
We shall see how many of those 919,999,997 escrow shares will be sold from 08 October this year. Could be some positive announcements in Oct to help sell them escrow shares.
Market Valuation of $214m based on 1,070,000,000 shares seems excessive considering the risks outstanding.
