Update 2 – 30 July 2019
Stock Code: IP1
Shares Purchased: 454,545
Share Price: $0.022
Reason for Buying:
1) All 3 directors have significant holdings in the company
2) Major shareholder took his full placement in the last raise.
3) Low market Capitalisation and Enterprise Value
4) Payment systems is a hot sector with numerous multi baggers in the last few months.
5) With the recent raise there shouldn’t be any need for additional capital in the short term whilst they look to increase revenue from new and existing products.
Risks:
1) Cash burn per quarter is quite high. Will need to keep an eye on this in the next couple quarterlies
2) Share price trading 100% higher than the last raise price. This is positive in a way but obviously increases risk of supply.
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