We have had a lot of emotion, expectation, confusion, disagreement, conflict and all sorts of research posted since the announcement in relation to the proposal to distribute the Covid-19 test kits.
I have been a holder for a long time so thought that I would just step back a bit and reconsider why I am still holding and I can say that it had nothing to do with the corona virus.
The trading halt prior to the initial announcement was called on 20th Mar. Closing price of CDY shares on 19th Mar was $0.099c. The following was included in the half-yearly report issued on 26th Feb -
Since the Covid announcement we have raised $6m with potentially another $1m to come from the SPP supposedly for the purchase of the test kits so there should not be any impact on normal operations from this venture and our share price closed yesterday at $0.255c
I am comfortable to hold for the long term provided that we don't lose focus on our core businesses - midkine and evolis.I hope to see a good update on these in the March 4C.
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