emusic live23 Mar 2021 23:10
A third of the placing money has been invested in the emusic live venture. Paul went on to state they will be hosting several hundreds of shows this year with 7digital receiving 15% of the revenues.
6 months later into the venture and half of the shows that have taken place have been "free" events, generating zero revenue in terms of tickets sold.
Aside from the Virtual Circle gigs there is also virtually nothing in the pipeline.
Current market cap implies a huge price:book valuation. The emusic live venture will dramatically hold back the share price going forwards as its nothing but a drag on earning per share.
Nonsensical waste of capital.