Tiny Ltd V.TINY

TD's Notes

[ace1mccoy]

Event

WeCommerce announced that Evan Brown, CFO, will be stepping down in June.

Impact: SLIGHTLY NEGATIVE
 

Strong finance team to help with an orderly transition. Mr. Brown will remain

at WeCommerce as an advisor to ensure a smooth transition. WeCommerce has

already commenced the search for a CFO candidate with an executive recruiting

firm. We believe that the company has a strong supporting finance team, which we

had the opportunity to work with recently. Stamped is mostly integrated and a new

CEO has already been appointed, so we do not believe there is much integration

disruption. We also do not foresee any material disruptions to Q1/21 reporting, given

the the timing of Mr. Brown's departure.
 

Alex Persson, President, assumes role of interim CFO. Mr. Persson has been

with WeCommerce since last year, leading the company's acquisition initiatives.

As such, we believe that the recent news will not have a material impact on the

company's ability to source and complete acquisitions. However, if the search for the

next CFO continues for a long time, there may be potential for his departure to be

slightly disruptive.

[DaNixon]

thanks for posting that, I mean yeah, fairs fair if the departure is minimally disruptive, just terrible optics!! Especially on such a new public listing. Have to wait and see, in the near future today will hopefully just appear as a market overreaction, have a great weekend, cheers!

[freeradical1]

Disruption to the business is one thing but investors will be more concerned about whether this is foreshadowing further issues.

[DaNixon]

totally, I'm wondering if that's what today could have been, a quick exit for a few,

[freeradical1]

Lots of things potentially in play. Ong has about 500K shares, Brown has about 80K shares and insiders will get their first window since the merger later this month.  

[DaNixon]

that's alot of volume if they want out..... You're right, it should be quite interesting..... Lol I'm almost afraid to watch!

[freeradical1]

If there are a couple of weak hands looking to get out then Table or Tiny should just take out the position themselves privately. Allowing a slow decline to continue will deter others from stepping in an encourage insiders to start selling as soon as they can after the Q1 report.

[DaNixon]

yeah nobody likes the "attractiveness" of a grindingly red stock performance. Now being at 15, I'm watching closely, I had thought previously that the SP could drop to fill the gap left after their IPO. 14.25 was my low guess, so who knows! Stay cool Free radical, all the best today, cheers!

[Joe455]

Does it have a crypto gimmick?

[DaNixon]

not to my knowledge,