After releasing the HY results they said something like:
"Given our strengthening financial position and operating performance I expect to resume dividend payments to shareholders when we announce our full year results."
And they have come up with a loss of $10m from continuing operations.
Now they say:
"The Board is confident that the company will return to profit in 2015 financial year following a re-alignment of the business structure with greater focus on the key drivers of the business."
I don't share their confidence.
Silly mistake on my part. Note to diary: Ignore press hype on gimmicky products. And if "entrepreneurs" are reported as buying stock, avoid them like the plague. If a company is reduced to plugging their stock at show biz cocktail parties, there's a fair chance they have no real substance.
The only remaining question for me is when to hit the sell button. I don't see a need to panic just yet, because they are still (just) cash flow positive, although I note a reduction in OCF and a reduction in interest cover from 2x to about 1.5x, despite the reduction in debt. I think the market anticipated this crappy result, and today so far there have been no trades at all (pretty well summing up interest in this stock). So it's a wait and watch for me. But I will take the loss and dump on any further serious weakness.
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Last
7.5¢ |
Change
-0.001(1.32%) |
Mkt cap ! $11.04M |
Open | High | Low | Value | Volume |
7.3¢ | 7.7¢ | 7.3¢ | $3.241K | 43.90K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1476 | 7.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.7¢ | 4171 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3601 | 0.075 |
1 | 2019 | 0.073 |
2 | 45443 | 0.072 |
1 | 100 | 0.065 |
1 | 3234 | 0.051 |
Price($) | Vol. | No. |
---|---|---|
0.077 | 4171 | 1 |
0.078 | 13346 | 1 |
0.079 | 29698 | 1 |
0.080 | 194450 | 2 |
0.088 | 8237 | 1 |
Last trade - 12.56pm 12/09/2024 (20 minute delay) ? |
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