CTS Global [CTS 0.70 ?6.1%; 1% avgVol] [link] posted a Q3 net income of P6.5 million, down 63% y/y from its Q3/23 net income of P17.5 million. CTS reported just P0.3 million in global trading revenues for the quarter, down 96% q/q, while also reporting P20.2 million in local trading revenues (up 60% q/q). On the same day it released its earnings, CTS also revealed that its board of directors approved a “revision in the estimated timing of the disbursement of proceeds” from its IPO. CTS now estimates that it will have applied all of the proceeds from its IPO by Q4 of 2028 (up from the current “Q4 of 2024”, which was itself amended from the original “Q2 of 2022” from the prospectus).
MB BOTTOM-LINE: Does CTS stand for “can't trade stocks”? I don’t know, but in a twisted way, I do kind of respect the hustle. Maybe I should conduct an IPO to take P1.3 billion from investors on the promise of super-charging trading gains using my proprietary system, then just dump a ton of that cash into government bonds and sit back and collect a salary for a couple of years while I collect the interest. Hey, maybe I’ll think about launching MB Global in FY25. It sure beats trading for a living.
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