My biggest investment is in BIG as Social Media is still in it's infancy so having spent ages researching this I'm buying on Monday. Incidentally the video posted is I believe, via BIG.
The Negatives
1/ U.S Hedge Fund issuing a Convertible Note. I always hate this type of Toxic debt but when issued it seemed they had no choice, however it diluted by adding an extra 188 mln shares, SP then at 14 cents.Good thing is they are quickly paying off debt now at just $2.8 mln down from $14 mln. It expires Jan '2019.
2/ CEO selling due to Tax reasons. Never a good sign especially the amount, and being a cynic who is to say he won't again despite his statement to the contrary?
The Positives
Honestly too many to mention and was covered in that video and on here.
There is support at 13/14 cents which we keep bouncing off as not only chart wise but more importantly it was when the had their last CR.Many Fund managers will draw a line in the sand to protect their initial investment, hence more buying.
Both on a micro and macro view this looks very cheap particularly as they are very aggressive on paying down debt.
The one asset that punters don't have but investors do is patience so not bothered about a few ticks.
Similar to BIG in that it's in the same space and has a revolutionary business model, so say in 6 months time I wouldn't be surprised to see this north of 50 cents.
I've also spoken to them about how they could improve my own business further.
CM8 Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
