Willbio, what do you mean, "What has actually gone wrong...

Willbio, what do you mean, "What has actually gone wrong here"????? There are literally hundreds of posts on this forum about what has gone wrong. They have been blatantly over stating their income by writing up on paper the value of the funds that they manage, recording their performance profits on the profit and loss on paper, and not receiving them.

Seriously go back and have a look at the half year report, if you deduct the increase in the non-current receivables (these are the fees that they have booked, but not collected) from the profit they lost money - and that was BEFORE the Glaucus short and BEFORE the new accounting provisions come in to stop this kind of profit reporting. Under the new accounting methods, their own Managing Director has suggested that they are NOT PROFITABLE - so now they are having to cull staff, whom I would have assumed done something there??? Seriously get the half year report, go to your accountant and sit down and spend an hour with them going thru it with one question for them to answer - if they could not claim the increased non-current receivables, are they profitable - Ask.

So by the time they release the Annual report, this company will have less resources, identified that the 2017/18 year was a loss, their business model will face significant pressure for a fresh capital raise and the discount will be massive.

Remember this post in August when all of the brokers are re-rating this company to $2.50 or less.

As yourself one question, if this is so CHEAP and a clear BUY, why are there no significant investor updates coming on the market. The volume is there, it wouldn't be hard if you were a fund to take a 5% or even 10% stake in this company with the current volume. But there is only silence. Why isn't the founder buying back in, he got out around $10, his contribution to this is to update the market on his sales pre-slide...

Blue Sky's entire business model is - raise capital, seed funds, manage funds for a fee, repeat.

Given the current share price and lack of support, at what price do you think they will be able to raise and additional $50 mil for the 2018/19 funds they will be looking to seed? $1? $1.50? $2?