Ted, the company does have potential and there will be a trade in it - pretty clear it hasnt been trading on its merits for quite some time, probably around the time of the AGM in fact....
Im in it only for the trade now, am convinced that now the 1cps rights issue has been announced the ramp wont be far away.
I will be glad to kiss my shares goodbye for anywhere around break even, will participate in the rights issue only if i cant get out for breakeven beforehand. Have no confidence/faith in the board - imho they dont deserve to be directors of a public company - 1cps is a frigging joke considering they had $1.7 mill in cash at the end of december + settlement monies from the south african dispute and i dare say a sizeable ATO refund coming at the end of the financial year for R&D write off's that were part of the half yearly report...
if these guys were ethical and took their responsibilities seriously they would have protected existing shareholder value by avoiding a sizeable capital raising until the sp was far north of these levels. instead they waited until the sp was rock bottom and have struck oh so ruthlessly.
it would be nice if some of the real life underbelly characters were on the register, it could be seen as poetic justice.
as previously noted, im looking for the exit door - am confident i will get out because its part of the plot and i will never, ever look back on this shonky operation.
good luck with your own strategy.
DDT Price at posting:
1.9¢ Sentiment: None Disclosure: Held
