Ann: Consolidation/Split - ODN-ODN.AX, page-206

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jiska

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14/09/16

21:50

Post #: 19160735
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Originally posted by The Wild Man ↑

I disclose that I got out of ODN and no longer hold. I come here now and then just to see how things are going. Like cruising past the house of an old flame and recalling older and better times. I was a regular poster here, but as a non-holder now I rarely post. This is likely my second or third ODN post since I sold out.

It's truly a pity that a company with so much going for it like Gridcomm stumbled across such a "lesser quality" RTO partner as this one.

I'm a loyal type of guy who got into ODN on the back of the promise I saw in Gridcomm with the intention of being a LT holder. Little did I know that Gridcomm were trying to deal with a Mr Bean type partner. I wished at the time that someone like Matthew Walker had seen Gridcomm first. Alas he didn't and the situation was what it was.

I got out after the talk of 5:1 and 10:1 consolidation became 20:1 and 100:1 ( in an extreme case). A quick look at the sheer number of post-consolidation shares given to Gridcomm people and some quick maths calculations gave a "ballpark figure" for the eventual value of my shares way below what I was comfortable with.

Many people jumped ship around the time I did with the intention of seeing what happened and maybe buying back in Post Consolidation if things looked right price wise. I got out at 1 cent (posting a 50+ % loss) and I am glad I did.

I'm not here down-ramping ODN as such.... just one aspect of it. Management. Gridcomm itself is a potential world leader in its field with potential coming out of its ears IMO.

I hated getting out but it just made so much sense at the time..... I MAY return - who knows.

I truly hope that all of you can get past the disappointment of the process thus far and over time do well financially out of the new company.

You guys deserve it.

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I've read your post a couple of times, and I'm missing the point/purpose of it?

ODN Price at posting: 1.0¢ Sentiment: Hold Disclosure: Held
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Ann: Consolidation/Split - ODN-ODN.AX, page-206

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