We floated four months ago, we raised $7.3 million at $0.75. Obviously since then our share price has received a bit of a hammering. But really a small number of shareholders, pre IPO shareholders have been taking this opportunity to exit and exit rather aggressively. Hopefully they are nearly out. And at the end of the day, as a business, we (I) have obviously listed other businesses before. The price will end up reflecting our success. I think you will see, that our prospects are good.
We receive R&D grants, because we are doing a lot of R&D. In the next 18 months we expect between $2 to $2.5 to $3 million. Also as flagged in our prospectus, for the IPO, we’ve had a cost reduction that went through the last quarter, in terms of redundancies etc. And you will see we have spent millions and years building very special legal structures. That’s about the finish. So our cost base will reduce. So there is no imminent issue with capital with DomaCom.
We are a retail managed fund structure that enables us to fractionalise any asset. Property is where we started. We are moving onto fractionalising mortgage loans, fractionalising corporate bonds and there are other asset classes that we are fractionalising.
We are fully retail authorised. Unlike some of the property crowd funding sites that are restricted to sophisticated investors, we are open for retail, also to the financial adviser community. We can also be accessed direct by investors. Our original business model was very much intermediated by financial advisers. Our low hanging fruit market is the Australian pension market with a particular focus on self-managed superannuation.