I agree @eternalgrowth - I am half tempted to buy back in but am...

I agree @eternalgrowth - I am half tempted to buy back in but am unsure about management. This isn't the first example of weak communication. For example, they have consistently failed to explain the underlying performance of the business since listing. I still have no idea how much of the increased cost base is one-off vs recurring. Then there was the share placement to a supplier for services rendered which wasn't a large amount but curious nonetheless.

Generally I think that shareholder communication is much less important than operations but this is a newly listed company based in SE Asia and so there is a lack of accessible reliable information. Therefore particularly in this case, a shortage of decent management updates make it difficult to form a view of the business. Perhaps my lack of conviction also says something about my research process.

I still like the model and hope that poor communication is down to inexperience rather than more problematic reasons.