Correct. I’m making the bet that buying at these prices is worth the percentage chance of receiving the potential rewards.
The lonely shares I purchased at 9-11c (before the decision to cancel the dividends & buyback) will not be in the black for a while — no doubt many current owners will find reason to sell along the way to new owners; thus slowing the rise to a reasonable price per share.
But shares bought at 1.7c were excellent Xmas presents to myself. And there have been several Xmas days over the last few months where you could buy around 1.7c. Wouldn’t surprise me if it happens again in future.
Buying at 1.7c is just a little nicer and a little safer than buying at 2.1c or 2.4c if you’re waiting for a corrective action to a reasonable price (eg 24c represents net value of assets).
Do I think XPD Soccer is different from the companies showcased in China Hustle? Yes that’s my bet. My bet is that the China owner/operators are not “pro AU shareholders”, but importantly they aren’t “anti AU shareholders”. They just like running their manufacturing company and never needed to float in AU in the first place.
And I’m happy to be a shareholder of such a nice little company . I was happy at 11c (albeit we were promised buy backs & dividends), and am happier to buy new shares at 2c or so (with no promises of any management action for the company to invest in its own discount shares nor pay dividends)
