At least the tone of the announcement feels ok.We will see no doubt at the meeting.
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At least the tone of the announcement feels ok.We will see no doubt at the meeting.
Plus SMS: Lots of hype, no delivery. The whole thing descended into a bazaar farce, most of which is detailed here: http://www.nzherald.co.nz/business/n...ectid=10753959
Take a good long read of the article, noting some familiar names and their actions.
Let's not forget that Snakk has (IMO) a viable business model. I hope they get the execution right and that the board & management team aren't interfered with.
Oh wowwww!
Making me think twice about dumping snak now, especially Sorensen, not cool at all. Heard way too much about the sorensen's. After reading the article, makes me think snak has been all about hype. Thinking hard to dump snak or not. However, I still have some faith in handley.
Disc - holding
I suggest you re-examine the basis for faith in Handley by looking at the article post 1284 by Bluehorseshoe on p. 86:
http://www.stuff.co.nz/business/unli...g-on-the-world.
I find alarming Handley's idea that he will expose investors to "multiple Snakks..... which might not all work".
" Part of the reason for Snakk being on the exchange is to try to create a new kind of listed company that is small cap, high growth, small revenue tech stock that isn’t looking to raise tens and tens of millions. It’s almost using the NZAX as a venture capital source for A round and B round type capital.
My dream would be to start creating multiple Snakks and popping them on the exchange one after the other, enabling the general public to get a piece of the action. They might not all work, but I think every investor should be exposed to these types of exciting journeys."
It seems to me he is getting carried away by his own hype.
Discl quit at loss of brokerage.
Hey Leon, yup have read this article before, thanks for the heads up.
I think these questions need to be addressed at the meeting.
Just how is he planning to raise all these so called 'high growth companies' is beyond my imagination. Why is he not just focusing on snakk?Lets say some faith was a bit on the optimistic foolish side, more like slightest faith.
Moosie your thoughts on handley?
Actually I bought on the basis he apeared signally motivated and personally impressive and the market might like that. Like some others here I could not come to grips with what Snakk owned i.e. it was not obvious what if any intellectual property might be unique to it. It also appeared increasingly obvious Handley was doing a lot of other things. There was no point in riding down with the fall. I think Sorenson is largely a distraction. If indeed there was "value" there there should have been keen buyers for those shares. It seems to me less a question of destroying value than doubting there is much value there, at least at this point.
Interesting comments guys above - thanks for the link of the herald article. It's good sorenson is selling out we don't need his name on the list by the look of it, he's made his ten bagger and is off to vmb now.
If you look at the hype of plus vs snk my view is they're not all hype be it only north of 4 mill in sales but they have a real business with real sales and from the announcements to date are telling investors it's a long term stock to be patient for this emerging media.
I'm interested mostly in quarterly sales growth and where they will deploy the capital raising - if its only used for cash burn over two years I don't think we will see a share price north of .20c
Just my views guys DYOR
.....This sounds like "big day out" at the lemming community.If all you base your shareholding in Snakk on is what Plus SMS did then you won't be a holder in Snakk.If at the Annual Meeting you can convince yourself that Handley passes muster and that they have a good business plan and are currently making money,then that's what its all about.Sorenson appears to be on the way out,not in and they have enough cash in kitty as against issuing zillions of shares.Let's get a bit of stability in the show.We'll be bringing up Brierley,Judge and Hawkins next..........