Zoono could announce they have entered a contract to sell it to every man, woman and child in all of China, India and the USA for the next 50 years and I dont think anyone would listen. Investors would not be so upset and demanding $ figures if the quarterlys for the last year were not a freight train going off a cliff with the only excuse being the continual everyone bought too much at the start of COVID. Sorry, that excuse is far too long in the tooth. There is zero visibility as always of which cliff they intend to go off this quarter.
Zoono have become the boy that cried wolf and everyone puts all there flash announcements as another joke into the bin. There reputation from investors is so low, and when I think it cannot go any lower they manage to show me they just bought a jackhammer. Imagine if they actually needed to do a capital raise, how hard it would be to get finance?
I just read the board is made up of 3x directors, Paul Hyslop, Don Clarke and Elissa Hansen. I am happy to be told otherwise but from a brief read of the Info from the 2021 Annual Report Don Clarke is a legal guy and Elissa is an accounting /finance/governance person. I am not discrediting any of them and I can see there required roles, but they really need a director who has a clue on biotech, developing technology, consolidation, strategy etc. This isnt a sales company, its a technology company and there is zero technology personnel on the board.
Zoono have teams in USA, UK, Europe, UAE, South Africa, NZ&Aus, Asia and China. That's saying each of those regions were able to sell on average $400k of product. I know some areas are more established than others but anyone that even remotely says that is acceptable is easily pleased. Online where a sales rep does not have to do anything probably accounts for $100-200k of that. If Qantas has it for every flight then I am guessing the sales guy doesnt have to do much for that even if the entire contract is worth $20k or some pitiful figure.
Anyway, there is no chance the share price is going anywhere for a quarter, as no announcement will move shareholder sentiment other than a solid quarterly report with solid revenue and profit numbers. The commentary and promises are a waste of paper.
My head says sell and take whatever you can before Wylie Coyote hits the bottom of the grand canyon, because if you don't trust the management the asset doesnt mean anything, but my heart says I want to see this story through.
ZNO Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
