Axios Mobile Assets Corp. AXBSF

Axios Completes Financing

[VPofFNE]

Give these guys credit, they managed to complete a significant financing with Relay Ventures. They netted $13.43 million after fees (not sure how much they were), and assigned two new people to the Board of Directors - including a new Chairman.

It concerns me that their Board still doesn';t have any people with significant pallet pooling industry experience, but these two new guys should bring some stronger focus on hitting targeted expectations.

One thing to note on this financing is the additional negotitiate rights, particularly on the 'piggy back' demand. This is unusal to see in a public company and will be interesting to see how this will be executed in the future.

For the time being, Axios has the funds to produce the pallets they believe will bring them to positive EBITDA. I have my doubts - serious doubts - but I will be an interested bystander.

VeeP

[Splifka]

Hey VeeP, Yeah, Relay is no joke, they've had more than a few wins, and I'd be very curious to learn what it is that they see at Axios, and/or what they don't see at the other pallat makers (opportunity and/or advantage)?  While I too found the 'piggy back' feature curious, as it's something which is not all that common, I really just saw it as another way to create