I'm wary of the pump and dump and surprise capital raising.... like it to settle for a few weeks at these levels..
From the Mac Equity report:
Despite 20 years of CVM development, the prospects of the technology – while generally positive – are subject to a high degree of uncertainty:
Undiversified in terms of a product, but diversified across markets.
Horizontal approach may protect the company from market risk, but subjects the stock to more influence from outside forces than a vertically integrated approach where production, distribution and sales are all under one house.
The conditions of agreements with major partners such as Boeing, AEM etc. are fairly unclear.
Competition is a large issue for SMS who must attempt to lead the market and gain first mover advantage.
FAA approval does not necessarily mean widespread adoption of the product will ensue.
Continued R&D and product development such as FAA testing means continued dependence on additional capital. The company’s retained earnings are a staggering –$45 million with a negative equity balance.
Despite balance sheet issues, we consider financial risk to be lowered given the recent $3.7m placement, institutional support from Drake Private Investments and the company’s commitment to a low cash burn with low net operating cash flows.
SMS does have a very concentrated shareholding, which may cause concerns if one shareholder decides to exit their position.
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40.5¢ |
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0.000(0.00%) |
Mkt cap ! $55.40M |
Open | High | Low | Value | Volume |
40.5¢ | 41.5¢ | 40.0¢ | $9.196K | 22.79K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1305 | 40.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.0¢ | 3491 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 0.400 |
1 | 37000 | 0.395 |
2 | 6560 | 0.390 |
1 | 2000 | 0.385 |
2 | 29517 | 0.380 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 3491 | 2 |
0.435 | 1493 | 1 |
0.445 | 1391 | 1 |
0.450 | 2000 | 1 |
0.480 | 10000 | 1 |
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