"Bell Potter was the lead manager and bookrunner for the raise, with Foster Stockbroking acting as co-manager."
This is all I need to know in regards to throwing out the 42 cent 'valuation' put on it by Fosters. Nothing less reliable than a valuation report put out by those working for the company.
Makes me wary, i love a good takeup rate, but the 1,000 users in 5 days makes me wonder if there is optimistic extrapolation of selective data to make it seem like 1000 users would be the takeup rate norm. in which case since the last update i would expect they should announce another 1000-2000 users.
Might wait until the cash burn rate and user take up reaches more breakeven. Have seen one too many similar great potential stories not make it to the profitable stage as the amount of cash being burnt on the product to get up to scale just eats away.
9SP Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
