Hi Whippet,
I agree with you entirely.
I have now accumulated 765,000 OBJ and sitting on a large unrealised loss.
I bought OBJ mid last year on the advice of a friend who holds in excess of 5,000,000 OBJ shares.
They believe the strength of the technology is phenomenal and thinks longer term this could be a Cochlear.
OBJ does not retail a product.
It develops technology that is used in products that are retailed by FMCG behemoths.
These giants are using OBJ technology to revolutionise their products.
OBJ is the secret ingredient and it will tag along with the success of the likes of P&G etc.
OBJ cannot make any sort of announcements that may alert the opposition about the new products these monster companies have in development. That would be a breach of confidentiality agreements that are probably as thick as the Melbourne phone book.
My observation of why the share price is declining is as follows:
I think there are a lot of speculators holding OBJ shares hoping to make a quick buck.
There is nothing wrong with hoping for that, but when another week goes by without announcement a lot of people get vocal and predict doom and gloom and get agitated.
OBJ will ride on the success of others and these wheels are going to turn slowly.
Be wary of talking yourself into a frenzy.
If OBJ is worth say $3.00 in 5 years, my holding will be worth $2.3m.
$5.00 in 10 years???...then its worth $3.8m.
Now I also get a bit jittery with these deflated prices too, so I talk to my friend for their view and they say to buy more.
So I will sit tight...I always bought these for a longer term hold given the product that OBJ is actually producing.
Expecting frequent announcements creating huge price spikes is unrealistic and will only lead to disappointment.
If in ten years time OBJ is only a Resmed (RMD) @$7.52 instead of a Cochclear (COH) @$87.61 I will still be ecstatic.
Just my opinion...provided for free and probably worth every cent.
GLTA
A
OBJ Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
(20min delay)