MNOW.V                              Sept 28 2021

Position: 38, 300 shares @$1.28. 

Note all numbers are in CAD.

Why am I holding $49 000 worth of stock? See below.

Summary:

1) Net-net

2) Insiders are buying, NCIB issued

3) Telemedicine industry, hype/ growth--> bonus. 

Market cap @$1.28/share = $28MM

$33MM cash + $2.5MM other current assets = $35.5 Current assets

- $1.1MM total liabilities -$1.8MM acquisition*.

= $32.5MM net cash.

*acquisition happened after release of interim financial statements so it's not reflected in this balance sheet.

They literally have $32.5MM net cash after subtracting all liabilities. 

And market cap (when I bought) was $28MM. Steal?

Insiders are buying like crazy and insider ownership is already very high (> 40%). And they issued NCIB (share buyback.) and are buying back shares currently.

Insiders don't buy to lose money, especially ones that already have >10% of the company. 

Currently they have little/ negligible revenue, this acquisition they made will give them $3MM revenue annual. 

Everything else is a bonus:

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On top of that they are in the telemedicine industry and are growing, think of CloudMD, if we can get some hype into this stock it will blast off into infinity, but recently all the peers are in declining stock prices:

1) Mindbeacon holdings inc.

2) MCI Onehealth tech

3) CloudMD

4) Dialogue Health Tech.

None of these are as well capitalized as Mednow Inc. This is a steal.

I will accumulate more shares at $1.20. It's already 36% of my portfolio, I only want to overexpose myself if I'm getting cheap shares.

https://ceo.ca/api/sedi?symbol=MNOW&amount=&transaction=buy-sell-public&insider=

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