Small Cap Value Report (Fri 1 July 2022) - UBG

Good evening/morning, it's just Paul here for Friday (Graham does Mon-Thu).
I had a good chat with Unbound (LON:UBG) (I hold) yesterday afternoon, and have typed up the key points below.
Agenda -
From yesterday - my notes from a call with the Unbound (LON:UBG) , to clarify some reader questions amp; misunderstandings.

£UBG  (I hold)
Qamp;A with the company, yesterday
How does this marketplace concept work, and what is it?
It’s a new website, UnboundGroup.com and we’ll drive traffic there from Hotter Shoes database.
It’s a way to leverage more products to our existing database of 4.6m consumers.
Will not use a single penny of working capital - it’s a drop ship model, as you correctly said.
Products amp; services will be curated, specific for our target audience - e.g. if a customer buys walking boots from Hotter, then we’ll target outdoor clothing to her, from partner Rohan, which has a strong store presence, but wants to grow their online sales.
Other existing sales channels include 17 standalone stores, and 8 garden centre concessions.
I asked to discuss the garden centres more - low cost to set up, they do have to be staffed. CFO has previously said on a webinar that all 8 sites are...