DomaCom To Start A 6-Month Pilot With A Big 4 Bank


DomaCom Limited (ASX: DCL) operates an Internet-based investment platform. The Company allows investors to purchase fractional interests in specific properties, as well as offers financial advisory on direct property and conduct of outright purchase of a property. DomaCom serves customers in Australia.

The company has disclosed on ASX that following a 3-month review process, one of Australia’s Big 4 banks is set to launch a 6-month pilot for fractional property investment using DomaCom.  The company’s CEO Arthur Naoumidis said that DomaCom has always been an intermediated business and has been seeking a sizeable B2C partner for some time and the management are looking forward to progressing this pilot with the bank. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

For the FY 2018, the company reported a loss of $5.7 million ($6.1 million loss 2017), which was in line with what management had expected and reflected company’s position as an early stage company. The company underwent a significant cost reduction program during FY2018. There were substantial costs savings across all the vital areas. In particular, the salary and wages were recorded at 24% lower than the previous year, which represented a reduction of $0.6 million from $2.5 million for FY2017 to $1.9 million for FY2018. The full effect of these costs savings will continue to be seen in the ensuing FY2019.

The management had stated the Outlook and said that, while progress has been much slower than the management expected, the company’s business is a complicated business that is; finally, the management believes, nearing the “home stretch.” The company has been successful in addressing the critical roadblocks to its business, and it is now well positioned for the future.

The management believes that the coming 12 months will be a time when the company starts to demonstrate traction in our business with substantial growth in our underlying FUM and with the sequential improvement in our cash flow.The ability to have debt has already started to make to a difference to the operational success of the company as it has taken the company three years to get to $28 Million in FUM and then within a few months of having lending available the FUM grew to $35 million.

The management now has another $17 million of transactions due to exchange in the next little while which will take the company to around $52 Million. The management also has a further $100 Million plus of deals in the pipeline – all of which have debt involved which shows the importance of debt on property investment.

Now let us quickly have a look at the company’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.089 and is trading up by 12.658% during the day’s trade, with a market capitalization of $10.39 million. The counter opened the day at $0.082, reached an intraday high of $0.110 & touched an Intraday low of $0.082. The stock has yielded a Year Till Date returns of 31.67% and posted returns of 27.42%, 12.86% & 31.67% over the past six months, three months & one-month period respectively. It had a 52-week high price of $0.125 and touched 52 weeks low of $0.052, with an average volume of 53,099 approximately.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report