The fall was on such low volumes I always felt that it was a controlled retrace, but you always feel nervous when it bleeds a little every day.
This bounce is on some great volumes, so hopefully we get a slow climb each day from here until the news of asset sale(s), debt reductions and/or projected earnings are announced.
Or it could just be a well orchestrated p & d?
I am hoping for a close around 15c or above.
In my mind though, if it's profitable anywhere around the $5 - 8 million mark, has a strong indication of continued growth within its core business, has little if any debt and a strong balance sheet, then it's incredibly undervalued compared to most small cap ASX companies.
Of course, this is balanced a little by the legal proceedings, but how often have any companies been liable for losses? Incompetence is not necessarily a reason for damages to be awarded.
Anyway. I've put my trust in the new bloke. What he has done in such a short space of time to save the company from bankruptcy is amazing. I look forward to seeing his long term plans.
Milesy
VET Price at posting:
16.5¢ Sentiment: None Disclosure: Held
