Indoor Skydive Shoots Response To ASX Queries Following The Surge Of 100% In Its Stock Price

Indoor Skydive Australia Group Limited

The watchdog Australian Securities Exchange raised questions from Indoor Skydive Australia after it’s stock price jumped more than 100% in yesterday’s trade, i.e., 7 March 2019. The regulator asked IDZ if it is aware of any specific information that led its securities to increase from then previous close of $0.08 to set the day-high of $0.016 and closing at the same on 7 March 2019.

Indoor Skydive Australia Group Limited (ASX: IDZ) replied to the query by stating that they are not aware of any information concerning the company, that has not been announced to the market which, if known to some in the market, could explain the recent trading activities in IDZ securities. 

It has been observed that the company succeeded in maintaining the same position on ASX today. Although there has been no daily-price change on 8 March 2019, the stock stood stiff at $0.016 with a daily volume change of 80,000 shares.

Since the company had replied ‘No’ to the ASX’s very first question as stated above, IDZ noted that the only reason that it believes could explain the recent share price and volume movements is investors taking advantage of what they see as a market opportunity.

The Group also confirmed its adherence to the Continuous Disclosure obligations and is in compliance with them including the applicable listing rule. Also, it confirmed that these responses to the ASX query raised via a letter dated 7 March 2019 have been authorised and approved under its published continuous disclosure policy.

For the half-year ended 31 December 2018, ISA Group reported Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) profit of $351,506 and a net loss after tax of $1,170,569. On balance sheet front, the Group had a net current deficiency in assets of $5,808,594 as at 31 December 2018 while generating negative cash flows from operations during the half-year of $744,876.

The principal activities of ISA Group are to own and operate Indoor Skydiving Facilities across Australia and South East Asia. It operates three Skydiving Facilities in Australia; iFLY Downunder (Penrith NSW), iFLY Gold Coast and iFLY Perth. ISA Group also has a joint venture with 1 Utama in Kuala Lumpur, Malaysia.

During the half year ended 31 December 2018, Indoor Skydive Australia Group Ltd during the period announced that it has entered into an agreement for a US$3,789,933 loan facility from SkyVenture International Limited. The loan is in the form of US$3,789,933 promissory note for a 2-year term with the first year comprising interest payments only. As per the terms of this agreement, Up to AU$2,255,492 of the loan amount may be converted into ISA Group ordinary shares, maximum to 20,504,477 shares which are equal to ISA Group’s capacity to issue shares without shareholder approval.

Over the past five days, IDZ stock price has surged by 45.45%, but in the long run, the stock has posted negative returns with as massive as 92.38% decline in the past 12 months.


Disclaimer

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.

Top 25 Dividend Stocks To Consider

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here