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Re: None

Tuesday, 01/30/2018 8:44:30 AM

Tuesday, January 30, 2018 8:44:30 AM

Post# of 733
Post by ValueFox of SS:

Sphene Capital are indeed a very small and focused boutique, mainly providing IR-related services to small companies to increase awareness in the capital markets. In most of the cases, the companies are paying for the research reports - but in this case, the founder has initiated coverage on his own after discovering the company. I had a long conversation with him some weeks ago, also about the non-existing IR work and that they seem to refuse to allow contact with financial analysts to an extent where it appears to be an obsession. I guess that CUV is afraid of a large float ownership of retail investors who would happily trade in their shares at a 100% premium in a take-over offer - so they try to stay out of the spotlight of retail investor channels (that's the only way it makes sense to me in a rational manner).

I think while the reach of Sphene Capital is limited, I think we can try to multiply on it and help spread the word. I believe that this in-depth compilation is very unusual for an analyst report (because of its superior quality and research effort=, and at least for me creates far more reassurance than the back-of-the-envelope "research" we saw from Florian Homm.