Well there was a whole bunch of institutions who bought in at $3.00. They aren't retail chumps. The promises and business case put forward by management to secure funding at that level have obviously not remotely come to fruition.
Its not the case of looking at simple PEs. The company isn't spend tens of millions on R&D to be a dividend stock. It was spent for growth which is not materializing at the rate required to justify the investments in R&D.
The market has well and truly judged the management and BoD to the point that company is so cheap. Good technology companies aren't cheap, look at ALU, TNE.
NTC Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
