Hi Brent,
For me it comes down to risk vs reward.
I don't think they would have done the CR at the end of the FY with Tax Loss selling going on if they had a choice.
Which makes me thin they had no choice because they were out of money.
It also makes me think there is another brutal quarterly coming in the next few weeks.
We know that Corona Cloud is not ready yet... it would have been launched....
Te best they could do was a Beta launch Ann.
And it has been delayed repeatedly over the years.
They've been talking about white labelling a suite of apps for months now...
Even though they don't actually have a suite of apps...
So I don't think there is a white label deal coming anytime soon either.
If there was something in the pipeline they would have managed some kind of Cornerstone investor... which the haven't...
So what that leaves is still an organisation which promises a lot, but lacks real validation by serious investors and industry peers.
If and when they can deliver a serious revenue announcement I think it could be worth owning.
Whilst that could come at 9.30 today my guess is that it's probably months away yet.
In the meantime I can only see the SP grinding lower with intermittent jumps.
The ASX is littered with charts like NORs.
Just my thoughts...
Good Luck!
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