I'm almost tempted for another helping of this one. I was lucky to get out last time with a profit - but it was pure luck as the bounce I bought in to get never came. After months that weird bounce to 75c came and I exited. I know lots of others got hammered which I think is quite terrible and they have my best wishes with the lawsuit.
Anyways - does anyone know whether NA Williams is really using the software? I remember when we were languishing off 50c reef, none of us knew if the announced deal was real or not, and the Company was not giving any updates (for which I hope the Board is held to account if it is found to be wrongful). I asked that question a lot and nobody ever knew. I'm wondering whether the position is clearer now.
I did skim their last report to see the anemic revenue they are generating, but did not look in any detail and nothing immediately jumped out at me. Now this big holder has been dumping into the market, the price drop got my attention - I love a falling knife. My main issue is around fundamentals - I have absolutely no idea which clients are using their systems and to what extent.
'Last mile' is such an over-crowded space that if they are not getting revenue traction now (and they are clearly not), they may never to the extent they need to justify existence as a listed company. However, if there really are very large clients using the system, but just not paying for it yet, I can see some hope. Failing that, I personally think the cash box needs to be wound up in the interests of shareholders - which could generate some $$ if the SP drops further.
I'm 'none, not held' but would love any insight any one has around big clients using the system. If there is a thesis for buying in - it may be worth another punt here or hereabouts.
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