So back to my question, What is the real potential of Buddy?
Or another more fun way to put it: Is Buddy the next 1PG - the next big bagger?
From an Abdm post early August:
...For this reason Buddy Limited should really only be compared to 1-Page Limitedwhich 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.
Then from Nani (MG) last weekend: (it's the whole post as he has some interesting info'):
My source was right , Prospectus was not lodged last night. CR of $10mil is covered few times over without the Prospectus or Bookbuild is what I am hearing this morning. Prospectus will be lodged around mid to late next week I was told. Apparently medium sizedInstos and Fundies are all over this from Asia and here Oz and NZ.The guys who are doing this told one of their close associated Institutions that they can't guarantee any Firm shares except an allocation of some sort. I believe there is something big going on here. They are not saying to the market yet. It may better 1Page over a period of time The promoter said . The fact remain that the SP since July 20th or so been excellent. That itself is a great indication. Once Buddy is in total control this will move real quick. cheers
Nani MG also mentions CR of $10mil is covered few times over without the Prospectus or Bookbuild - this confirms something interesting with the indicative timelines published.
This is from the 7th of Oct': On page 32 of POKs AGM pdf that came out that day - the indicative timetable for the cap raising is:
Opening Date of the Capital Raising 23 October 2015 - Closing Date of the Capital Raising 20 November 2015.
Then from the 19th of Oct': On page 31 of the Buddy Investor Presentation pdf that came out that day - the new indicative timetable for the cap raising is:
NEW opening date of the Capital Raising 30 October 2015 (good pick-up Quanta) - NEW closing date of the Capital Raising 9 November 2015
THEN ANOTHER NEW PRESENTATION CAME OUT on 26th of Oct': picked-up by Eudemony on page 32 of this latest Investor Presentation - the new indicative timetable for the cap raising is:
FINAL NEW opening date of the Capital Raising/Book Build 2 November 2015 - the new Book Build now closing 3 November 2015 - NEW closing date of the Capital Raising (SPP) 9 November 2015
So, since the 7th of October, 3 upgraded Indicative timetables later, Capital Raising timeline has been reduced dramatically - NOW ONLY ALLOWING 2 BUSINESS DAYS FOR THE 10 MILLION CASH RAISE - AND JUST 5 BUSINESS DAYS FOR THE SPP. .... HOLY CRAP BATMAN!
This dramatic reduction in the CR timeline clearly is the market speaking.
NOTE: Nani MG replied to a post I did about this last timeline change - I think it's has relevance to quote: You think SPP will be oversubscribed try CR at 10c BP guy who is doing this told his gun clients they may not get any. This people who give them the highest brokerage. Other BP brokers couldn't get any either for themselves. source
So if demand wasn't so strong, if Buddy weren't now so very confident - they wouldn't have made such a dramatic reduction in the CR timeline.
POK Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held