Management lack of responsibility to shareholders is astounding, Being no update to RFP or POS in almost 2 years now. I've spoken to management on many occasions - it's always been "soon" or "asap" "Q1" "Q2" "Q3" "Q4" that was last year whilst the SP kept drifting downwards.
I'm confident the company will come good sooner than later, we can't stay under 400m market cap with our GTV forever. (Unless they're keeping the price down to do another lowball CR and dilute the company allowing management even more voting power)
If you're frustrated I recommended contacting management, we should be putting pressure on them to get things moving. We need transparency in what is happening with our investment and confidence they are not using the funds in an illegitimate way, it's because of their lack of performance we're sitting at 1/3 of the IPO price when we should be a billion dollar company by now.
Ama's other company handpay could well be using the funds from Wuxian to develop her own Cloud POS http://www.handpay.com.cn/web/product/cloudpos.html I've inquired about this and they won't respond but it mentions easy integration of value added services so I feel it may have something to do with our Cloud POS when launched.
NNW Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
