I will answer your questions but the same as Dom, i find this weekend incredible with the number of people who are looking for negatives to what appears to down ramp. Not saying in this case but others.
It as also funny I never see down ramping until a stock starts to do well, I feel that is the Australian way, tall poppy syndrome.
It is great to have a balanced view as long as it is balanced and this article is talking about someone else by the name of Alder. It is unfortunate that Simon is mentioned but that is where I believe it stops and looking from that (but without knowing) maybe at this point simon cut himself from the company and the individual due to those reasons. I would also like to know what the outcome was? Was it proven they did not finish the installation? Did theybgove tge money back? or was this a one sided media story agaist them?
As far as taking upfront payments now, well that is to be expected and normal. I don't think I have ever ordered anything on line and not payed for it upfront, in fact I don't think I have ever purchased anything without paying for it or at least a deposit. Even when they sign an agreement for X number of Roam-e with say Wal-Mart they will be asking for payment to at least cover the cost of production which will usually be 30% depending on the numbers ordered.
They have made ASX announcements, presentations in Hong Kong, quartely reports all mentioning Roam-e and the soon to be launch. These guys are no dummies and know this is not a private company, there are far greater risks involved with manipulating and lying to shareholders and the market. This is not a mum and dad run private company and it governed by rules and they know this,the likes of Ian and Shu would not ruin 30years with the best in the business for a no name ASX listed spec stock.
IOT Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
