Whilst Jay Shah, CEO of Opendna, has a great track record for...

Whilst Jay Shah, CEO of Opendna, has a great track record for raising finance in the United Kingdom, his business track record is debatable. None of the companies in his CV are currently operating. I didn't understand why Opendna listed here in Australia where they had zero presence whilst they have been operating predominantly in the US, England South Africa.

The difficulty I had with this offering is that the business plan didn't give confidence that the $8m raised would be spent on the right things to generate the appropriate revenue streams. I felt that the company didn't have any identifiable long term clients to generate revenues so I opted out of this IPO.

I suspect without the prospect of generating profits to pay dividends, I suspect that the long term share price is going to be $0.06-$0.09