Volume is concerning, I jumped a while back after being disappointed at the timing and context of the SPP. I have watched from the sidelines hoping to see something from the company about how the SPP proceeds would be used.
I don't like the language in the announcements much either, the "major deals under negotiation" and "there continues to be significant interest" sound good, but when you keep repeating them each update but don't actually deliver one or at least discuss the progress on any of them, they really lose their meaning.
I know in the last results announcement in February the company hinted at looking for expansion into other markets, perhaps this ties in with the cornerstone investors being an "international institution".
There is still a lot to like about the prospects of the company's suite of products, but for me, the SPP when the SP was 5.0 cents at 4.0 cents a share was a mistake compounded by extension of the offer with veiled inferences of positive news coming that never did. This is not the market to pull that sort of trick without being punished, and it looks like that punishment is putting the squeeze on today.
Hoping to see some positive news soon to get this company that promised a lot back on track.
IVO Price at posting:
3.5¢ Sentiment: Sell Disclosure: Not Held