SMA unfortunate position

SMA UNFORTUNATE POSITION

One must ask themselves will the sales revenues increase substantially enough in the near term to stop the losses and if they dont will new funds be available to the company to keep it afloat?

I have sold out my complete holding in SMA as I only bought shares on the basis I considered the lotteries business to be the winner for this company.

Unfortunately the lotteries business seems to have been put in the bottom draw IMO and with such high overheads and little sales to cover the overheads I can only see more and more shares being issued to fund this current business and current shareholders being diluted further and further with a consolidation of capital if the company survives.

It is unfortunate that the directors are happy to put announcements to the the market with respect to the Lotteries side of the business when there has been something positive news but fail to give updates when they have possibly put it in the too hard basket.

With current staff levels and current cash rate burn I am changing my sentiment to a SELL as I feel it will be a long long time before the red ink is removed from the P & L statement.

Very disappointed in the PAST CEO Bryan Carr