Unfortunately the overall situation is far from laughable. This is a stock that has cost many people a lot of money and caused serious stress. In my own case the damage was close to $30K. My mate took a loss of six figures. The Holla conglomerate would appear to be down about $250K. Who knows with Disco, Braydan, Brent, Unlucky Bacs, The Large Caged Bird and many others ?
The facts are simple. Tomorrow they are likely to report cash at Dec 31 of around $2.5m, bolstered by the R & D rebate. They appear to have no guaranteed net-profitable revenue at all. Their life is very limited indeed. Added to that, the effort to keep the stock at 2.8 is running out of steam. Averaging down and/or desperately propping rarely bears fruit.
The only reason to hold the stock is blind faith. Young Webb referred recently to the cathartic experience of selling dud stocks at a loss and moving on. Holders should at least consider his advice.
NOR Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
