Where's the bottom. Good question Dan.
This smacks of another raising!
I've been silent for many months, watching in the background.
Wished the f&@k I bailed when the stock was pumped beginning of August to 0.22c
I bought 500,000 of this shite at an average price of 0.26 c January this year.
I completed my research, did my due diligence and believed that with revenue of $48 million and earnings of $12 million Aud, as we were told on numerous occasions, this was priced cheaply.
As I watched the company dilute with further raisings, I still believed that earnings would eventually climb and debt would be repayed.
We were told by management that with free cash flow of approximately $2 million per qtr, debt would be repayed in about 18 months to 2 years.
Only recently at the last quarterly, we again were told that the next quarter would see a material increase in earnings.
I have been told by Domenic to watch this space.
Hahahaha. Really Dom?
All I see is us mugs being taken for a ride again? Apologies if this sounds too harsh, but I am not happy.
I understand why others here have become bitter and angry.
They should be. We have been misled, told on numerous occasions that the company had sufficient cash flow and would pay down debt in a timely manner.
I am fortunate that I have done well trading PSC, KDR, GPP and more recently RMX.
I have recouped my losses here more than 3 fold, because I have not become focussed on this losing position.
While my discipline and money management has failed me dismally here, I have remained a holder purely for fundamental reasons.
ie. For some f&@cked up reason I still believe this company has a future and Domenic can turn the fortunes of it around.
Tomorrow we will find out if Dom has any more magic tricks and can pull a rabbit out of the hat.
Good luck Dom, I expect you'll face a tough audience.
Cheers Lute.
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