The $50k Challenge Update 12 – 06/07/2020
Stock Code: CDX
Shares Purchased: 480,000
Share Price: 0.025
Reasons for Buying:
- Company looking to achieve cash flow break even by the end of 2020 based on strong uptrend in revenue.
- Multiple new partnerships announced over the past 6 months to extend the reach of CDX in the telehealth sector.
- The telehealth sector has experienced significant growth due to the Coronavirus pandemic. By all accounts, this trend will continue to grow over the coming years.
- CDX signed a co-development agreement with Blumio as well as gaining a 7.5% holding of Blumio. Blumio is a company who is back by American Billionaire Peter Thiel.
- Top 20 shareholder own 51% of the register.
- The CEO is the number 1 shareholder owning 20% of the register. Total director holdings amount to 40% of the register.
- Company is using a combination of convertible notes as well as a financing agreement to fund its operations in the medium term. An equity raise is likely to happen in the medium term.
- The multiple partnerships that they have are exciting but obviously there are no guarantees that they will succeed.
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