Microcap Jesus

I see you rolled your way into the semis.

ASX and International Microcap Stocks.

[Microcap Jesus @MicrocapJ]

@primaryshares @MarkDiStef ASX already has sh#t equipment hire companies. no need for this at 100x the valuation

[Microcap Jesus @MicrocapJ]

@markgardn @AFR Perhaps a fair point but I dont think you can divorce the press from the price. Less greed would have attracted less negative press.

But there probably is a general setting bias toward the negative in the media.

[Microcap Jesus @MicrocapJ]

@markgardn @AFR Because it would inevitably end up trading at less than half of its $11 listing price and denting confidence in the market. passive investors getting shafted is not g
a good thing

this is not a tech company. its an equipment hire company. or at least it says it will be one day.

[Microcap Jesus @MicrocapJ]

@Tze_C @puppyeh1 It would be correct then too

[Jeremy Raper @puppyeh1]

Turns out everyone was right to be skeptical about Firmus….biz model was simply exposed by the rigor of public market scrutiny…yes bankers did a horrendous job but the parallels to WeWork are stark. The process of going public simply clarified (for the first time) the insane amount of capital they would need to execute their plans…and in the face of minimal proof of historical execution investors just baulked.

Not really that complicated

[Microcap Jesus @MicrocapJ]

@bowtiedstocks I suspect there is a big cash drain on paying out leaving partners and huge numbers of redundancies

[Microcap Jesus @MicrocapJ]

@puppyeh1 This company is a glorified equipment hire business. It should trade on the same multiple as Emeco (EHL) or Perenti (PRN).

About 7x PBT. But in this case discounted for the years it will take before they are earning those profits. And discounted again for them being made up.

[Microcap Jesus @MicrocapJ]

@RonShamgar I reckon it looked interesting to some people with new, seemingly more competent, mgmt in place (though still too expensive as u say).

Then price fall today the result of people realising founder will try to force himself back into the building thru share purchases.

[Microcap Jesus @MicrocapJ]

@88888sAccount make sure u treat her to the machine gun upgrade!

[Microcap Jesus @MicrocapJ]

Wait till they hear there's a 2nd way to increase yield!

[Microcap Jesus @MicrocapJ]

@MrQuick_ @primroseriordan 👀 Nice timing by them to exit. Who bought them out of the loans?

[Microcap Jesus @MicrocapJ]

@StarDestr0yer $1.6m pre tax ($2.2m includes tax write back). Still good

[Microcap Jesus @MicrocapJ]

@toy59496 Maersk analysis is useful. Cheers. I just wanted an excuse to use the term "dildo-laden"

[Microcap Jesus @MicrocapJ]

The world with LinkedIn having been down for 7 hours

[Microcap Jesus @MicrocapJ]

@asxvalueguy @StarDestr0yer @JoeNezitic To be fair this has done better than I had assumed. I think I had written it off in my head and havnt looked closely at it for ages. They've done very well turning it around.

2nd half FY26 will suffer with 400k lower R&D rebate vs FY25 unfortunately. But can see why u would like

[Microcap Jesus @MicrocapJ]

@StarDestr0yer @asxvalueguy @JoeNezitic EAX has been promising to come good for a decade and is unlikely to start now. but not impossible i guess