Anyone who read the formal meeting notice today, - if they had done no homework and were not au fait with the lead-up, - would be put off, especially anyone who is risk averse.
As is required by law, the risks are highlighted and detailed by an organisation hired (for $28000) to do just that. . All the negatives are there, but I could not find anything unusual or unexpected. The risks are high, its a brand new venture, the first in Australia, with boundless opportunity if all goes as hoped for.
Another factor contributing to lack of enthusiasm at present is the unusual stability of the bitcoin price. It has traded in a very narrow range now for almost a week.
What could go wrong? A whole host of unknows What could be lost? 5.7 cents per share right now. Max. What could go right? If everything hoped and planned for actually occurred, the potential for profit is massive.
Yes, the four directors have set themselves up very well, for me that's good. They have a lot of skin in the game and a lot more to lose than shareholders buying today at less than six cents.
The plans they have for the company will make trading more secure, and more attractive to those who have shied away so far. A complete package.
MEJ Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
