The metrics would look that way, but @Ivanovich lays out a pretty sound explanation for the lack of interest at the moment. Couple that with an arguably mispriced IPO and here is what you have.
If this listed at 7c, probably would be a different story. However now you have holders who are 70% underwater in under 12 months. Its 2 months before they can lock in a loss and write that off against likely gains in what has been an incredible ASX spec year.
Unless something changes, I wouldn't be surprised to see 5c before 10c unfortunately. Still holding myself, but not willing to double down yet. There needs to be some kind of catalyst for a bottom, cash backing is 3 cents.
My understanding of the business, products and market are that it could be absolutely the real deal. But without - as Ivan points out - at least a plan to profitability, it will be hard for holders to know how long that will be. 1 year, 3 years, 10?
MOB Price at posting:
6.3¢ Sentiment: None Disclosure: Held
