What a joke. Like to know what the costs were. Costs to advertise their own company for sale.
Stand well clear. No wonder the IPO failed.... No transperency as I pointed out ages ago.
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What a joke. Like to know what the costs were. Costs to advertise their own company for sale.
Stand well clear. No wonder the IPO failed.... No transperency as I pointed out ages ago.
Cost $1 million to do an IPO?? WOW! That is staggering for a firm that size. Oh well, at least the CEO didnt spend all the funds on a ferrari or call girls on his boat. LOL
Those floatation costs would have been half acceptable if it had raised the full 15 million...but given it didnt even reach the 8 million (around 5.75mill to my memory?) represents a very high floatation cost %.
0.991/5.75 = 17%...thats crazy...
Any sp/market cap predictions by this time next year?
Ed. Did reach 8 million but 5.75 was from public and other from founders... still about 12.4% costs.
It shows that they were willing to sell off their shares at any cost to the company
the only reason the directors bought into the float was to get the dog to market, the IPO costs should have been worn by the founders not the suckers that bought in, this was just a good way for these guys to exit in the future thanks to the public who gave them all the $ they required to keep building this firm. I would be peaved if i got invited as a VIB member or what ever they called it to fork out my hard earned cash at $1 a share only to loose 40% within a short period of time.
Can not believe they were trying to value this firm at $60 million given the fact they owned one possibly two stores outright and clipped the ticket on all the buns and mayo that went through head office.
Good luck to ya flame grilled money getting chargrilled by the owners.
PS: their burgers are yummy
How come Below 42 (ftb) managed to value their company at $50 million and got the IPO off the ground while these guys couldnt? Both IPO was way over valued.
I can't believe that the costs of the IPO have been worn by the new shareholders - does any one know the legalities of this.....
Valuations are pretty damn subjective, as Snoopy and Grant Samuel will tell you.
Different people. Different market. Different time. Different context.
In fact, Dr. Who, the hog would be interested in what the two companies had in common (realistically-speaking) - can't see much myself.