Agree with you. My previous post was just probing for some opinion. Management would not be giving up sensitive information without an ASX announcement.
I will not be investing another dollar in this thing until a major partner is announced with the technical and financial capability to make it happen.
What happens in 6 months time when another cash injection is required ? Do the sophisticated investors step up again and become very sophisticated ?
The lack of liquidity in any stock usually indicates that no big announcement is on the horizon. The market just doesn't work that way.
Directors cutting salaries, taking shares indicates belief in what there doing. Certainly prolongs survival with less cash burn. A pointless exercise unless the company can be turned around. I do not believe their primary reason is survival. It's better to go out on full salary than to drag it out on less money. Management must still believe they can be successful. It's got to be a major partner in their sights but when and who ?
OBL Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
