I don't understand the hype and SP rise around this. I understand that this gives an opportunity to promote the 9spokes product on a much bigger app exchange platform but it doesn't change the fundamentals:
- running out of cash fast
- being trying to raise capital for long time without announcements
- have had two major banks pull out of contracts with the company (it takes enormous energy and money to court these banks and get to point of contract)
- they have been trying to land a major bank in the US and saying it is close for around a year now
- the rate of yes new customer sign ups have slowed some based on last couple of reports
to the market.
- for a big organisation to commit to offering their customers the platform they want some assurances that 9spokes will be around for the long haul
IMO There is no guarantee this announcement will yield significant revenue and I am stunned at the doubling of the SP.
DYOR
I suspect the Directors have been feeling on edge of a cliff for the last 6months and I think they are genuinely trying. their resilience and strategy to go after the big banks from day one and get a few has been impressive.
hope it all goes well but too risky for me.
GLTAH
9SP Price at posting:
2.9¢ Sentiment: Sell Disclosure: Not Held
