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Waterblunt

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05/03/20

00:38

Post #: 43311805
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Originally posted by WestTrader057: ↑

It is hard to believe that this stock has gone from under 2 cents to 30 cents and back down to 4.5 cents in such a short space of time.

I am still trying to recover from the shock.

There is no doubt that there was excessive optimism when the stock was pushed up to 30 cents. A notable day trader at the time promoted it in his column and I believe bands of his followers jumped on board to fuel the optimism. Many of thee investors were not in for the long term and jumped ship as soon as they had reached their profit objectives.

Since then we have had further issues driving the price down to where it now is.

Firstly the corona virus in China and the associated economic impact and secondly the zero cash receipts in the company's December quarterly report.

Will the company now rebound? I believe it will, but can't see it jumping back to 30 cents any time soon.

On the positive side the Chinese and much to their credit are now getting control; of the Corona virus in their country. Figures this morning indicate infections are at an all time low and trending down. The Government will once it senses it has things under control start to release some restrictions and promote some economic growth. There are rays of hope here.

Management credibility is in question after the last quarterly report as a consequence of zero cash flow in. They should put this right as soon as possible. However I believe this will most likely only come when the March quarterly report is issued.at the end of April. Until then we probably have to wait in hope. Management have however projected their annual future gross income, which I believe was around $15 million and released a stock brokers valuation report, where they were predicting a future value of 20 cents.

I am confident that things will recover, but it is back to the waiting game.

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Hey mate,

Who was the day trader if you don’t mind me asking?

Cheers.

Last edited by Waterblunt: 05/03/20

NET Price at posting: 4.6¢ Sentiment: None Disclosure: Not Held
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