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CCA - Change Financial

Discussion in 'Stocks 0-H' started by System, Jun 6, 2016.

  1. System

    System Administrator

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    ChimpChange Limited is an Australian incorporated company that has developed a digital banking platform primarily targeted at the Millennial demographic.

    The Company currently operates in the US banking and financial services market as a digital alternative to high cost and rigid traditional retail bank offerings.

    It is anticipated that CCA will list on the ASX on 30 June 2016.

    www.chimpchange.me
     
  2. System

    System Administrator

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    On September 4th, 2017, Chimpchange Limited changed its name to Change Financial Limited.
     
  3. greggles

    greggles I'll be back!

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    Change Financial up 30.56% to 23.5c today following the release of its FY18 financial results. I must admit to being a little perplexed by the share price increase given the results, but can only assume that in spite of the US$9.05 million loss that it beat the market's expectations.

    screenshot-www.aspecthuntley.com.au-2018.08.31-16-22-31.png

    Revenue was up by US$476,000 but CCA's operating loss deepened slightly. I found this extract from today's announcement interesting:
    Not very positive.

    It's been a nasty 2018 for CCA with its share price collapsing from $1.38 in early February to 17c yesterday. Volume has increased dramatically over the last few days as the market anticipated the FY18 results and reacted to them. I get the feeling that today's recovery might have been a bit of a dead cat bounce. With a US$9 million operating loss and apparent pessimism by the company regarding their consumer division, I find it hard to understand how things are going to improve substantially from here.

    big.chart-CCA.gif
     
  4. greggles

    greggles I'll be back!

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    Yup. Let's take a look at what's happened to CCA since my last post.

    The most recent Half yearly Report (ended 31 December 2018) revealed that revenue was up $78,622 while the huge losses continue. Cash at bank at the end of 2018 was a paltry $426,520.

    screenshot-stocknessmonster.com-2019.03.22-13-25-14.png

    CCA raised $792,000 (before costs) via an Entitlement Offer at 6c a share (one new share for every five held) in February 2019. There was only a 58% take-up of the Offer.

    In short, things are looking pretty grim for CCA. They need more cash and it appears to be drying up rapidly. It will be interesting to see how things transpire from here but I am not optimistic about its future.

    CCA currently trading at 4.5c.

    big.chart-CCA.gif
     
  5. Smurf1976

    Smurf1976

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    Closed at 4.3 cents but there seem to be few remaining buyers above 3.5 cents so further sharp falls seem plausible. :2twocents
     
  6. greggles

    greggles I'll be back!

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    Saw CCA moving this morning, so I thought I'd do a quick recap. It got down to a low of 2.8c on 30 April, but that was it's low point. Since then it has experienced a solid turnaround and is currently at 9.9c and looks set to break above the 10c mark.

    There has only been a handful of announcements since the end of April, the most significant being the announcement on 1 July that the proceeds from the divestment of the Company's interest in the Ivy Project has been received. This was US$1.3 million as reported in the next Quarterly and certainly helped with the dwindling cash at bank.

    Beyond that, the operating losses have continued. Although they have narrowed somewhat.

    screenshot-stocknessmonster.com-2019.09.11-15_58_27.png

    I can't see any real reason for the recovery from 2.8c to 9.9c. All I can assume is that now there is a little more confidence in its operations and it is looking less likely that it is going to go under, at least in the near term.
     
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