MM thoughts on IVO
“The trading in this company "Invigor" has been in suspension for many/many months. Have you any information regarding its activity and its future.” - Thanks Clive now 90.
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Answer
Morning Clive,
Trading per se in a stock that’s fallen steadily from above $2 to 2.5c over 5-years is like pushing stuff up hill, it’s a far easier game to buy stocks that are in an uptrend into any pullbacks but as we know human nature doesn’t always lend itself to this course of action.
The stock went into suspension from the ASX back in October 2019 and have not traded since. They have been lodging applicable financials with the ASX however clearly the ASX are not satisfied with the state of the business, largely around the amount of debt on the balance sheet. They were addressing this by converting debt to equity however they now find themselves in a legal stoush with a shareholder / convertible note holder. They updated the market on the 29th January about this and at the same time released their quarterly activities report. The business remains operational, however no insight into when it will come back on the board was given.
MM is sceptical on IVO’s future
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