Must have been a HICCUP
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Looks like for now its ''back to the sixties''
one big seller
For the true believers --this is your chance--just after announcements are often a knee jerk response
Big seller has been cleared--I hope it was one of you supporters that got the sale--should stabilize somewhat now
Could be a good time to get in, all the short sighted sellers come rushing in, creating bargain times which could last for a month or so (until new shares issue is finished), then the market will calm down and (hopefully) recover.
Seems like the market is now fully focused on the rights issue rather than the results (which appear to still be good), the question for me is how many people are willing to 'ride it out'..., in the long term, a capital raising isn't a bad idea (I would think)
I would strongly caution buying and looking at the results in closer detail. As somebody mentioned previously the KP has not been mentioned which is an obvious red flag. Other things of note include the promise of " we will have enough money from our last capital raise to take us through to profitability" I read through the presentation and noted amazing statements such as we are now beginning to understand the U.S. Health market as a key achievement. Some of you more homely investors will like that but it is a rather amusing way of saying this is bloody hard work. Now comparing their revenue to valuation is a strong red flag if you look a company like VMob who have an eighth of the valuation but double the revenu. Balance was entirely correct with his forecast and I am still comfortable with my own present valuation of 50-80m. or roughly 20 something cents. They have less than 6 or 7 months cash left depending on the new gun sales people and revenue growth. Expecting this to drift near 50c or below.
Underwriter stepping in to support sp? Entirely predictable.
Watching the big holders and 'insiders' - will they sell down like they did last capital raising?