Koolkat, i dont view it as a loss to CGP shareholders at all that they sold 75m shares in IMU, they still retain 25m shares.
I view this management team as very professional and very pro active, they have the right team in place to go places.
Management have adopted a risk management strategy by 1) selling the shares in IMU,
2) more importantly, this current management have reduced net cash used in operating activities from Jan - June 2013 to $500k from $2m in the previous half year. A decrease of 82%.
If you have a look at how much management salaries are, they are amongst the lowest I have seen on any ASX listed company. At the early start up phase this is critical imo. Full marks to management.
CGP Price at posting:
7.9¢ Sentiment: LT Buy Disclosure: Held
