As much as it pains me Brett, I believe you are right. It is worth clarifying though that this stock requires a whole different level of patience.
For instance, after the AGM yesterday a Chairman's report would seem reasonable, would it not? It has always bothered me that this business has been very short on reporting and reeks of 'if there is no good news then just don't tell anyone anything'. Surely if there was good news to report right now, they would share that news as soon as possible out of respect for all the early suckers who have been partly responsible for funding this nightmare (at 40 cents and 34 cents and ridiculous numbers like that).
Investors like myself read the releases and announcements forecasting exponential growth and break-even cash flows for years, award winning products that will change the world. Now they're raising capital again and no doubt adding a couple of hundred million more shares just to make it even harder for the faithful (or should that be fools?) to get their money back.
In the seemingly unlikely event early investors get their money back (dreaming of a profit is a bridge too far IMO), it will be bitter sweet. Sweet to not lose our money, bitter because of the whole journey full of false and misleading information and what would seem to be incompetent management.
Sitting it out until it miraculously gets some income (400 well trained sales people on the job!!!), or goes broke, seem to be the only options for me.
P.S. kwnee2 has mentioned Whitehorse a few times. I'm with him. Why are we hearing absolutely nothing about Whitehorse? Tim Gooch is supposed to be in the US 'drumming up business' isn't he? Maybe a Chairman's report could cover off on that too............
NET Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
