100% agree. I don't like seeing a CR when a company is just burning through cash with no sign of revenue. That's definitely no the case here.
My thoughts are that I could wait and see the details about the CR (if there is one) then hold off buying until after it happens.
In my experience companies like to release a string of good news to push the price higher increasing the VWAP to offer the CR at a better price. I certainly wouldn't want to buy at a premium.
Again, I still don't know if one is required and would like to hear some thoughts around this.
ROO Price at posting:
53.0¢ Sentiment: None Disclosure: Not Held