Good afternoon, everyone!
Been a while since I last posted, but today's events have left me no choice. I don't mean to cause offense to anyone, but perhaps some perspective should be on tonight's menu...
Let me begin:
Firstly, capital raising through issuing more shares sucks. Dilution sucks. We all want to hold big pieces of an exclusive pie, and when the pie starts getting divided between more and more people, it strikes a nerve. The pie we are talking about, however, could be huge! When I invested in 88E, I had no pie. Just a small bit of cash and a belief. If I end up with my piece of the pie I have in mind, I will be happy. No yachts or supercars or mansions. Not rich. Not a millionaire. Not retired. Just happy. But that's just me, and each to their own...
Secondly, after reading today's trading halt announcement, I couldn't help but shake my head in disbelief. Not because of anything the company has done, mind you, but because of the comments that have rained down from all corners of the shareholder community. One comment even described being "screwed over" by Dave Wall. Newsflash: You haven't invested in billions of barrels of oil in Alaska - As, if that were the case, most people would be priced out of the market. No. Instead, you are invested in a board full of people who have a business to run, and the end goal, hopefully, is to substantially increase the value of everyone's holding. You are invested in the team behind 88E's ability to unlock the value in that oil. As such, if 88E were to collapse, the oil would still be there, but none of it would actually belong to you. You have bought the board and their skills, knowledge, expertise, abilities and visions. Do you trust that investment, or do you not? If anyone wants to blame Dave and his team, by all means go for it. Each to their own. In my opinion, however, there aren't too many better in the game. Dave does what he needs to do for the business. Shareholders are a massive part of the business, but sometimes hard decisions need to be made. Today was a hard, and widely unpopular decision. The board didn't make too many friends today. But again, that is not their job. They are charged with balancing profitability with operational viability, and if the board unlocks the value that I believe is there, then my trust will have been well placed. If not, therein lies the risk in any stock...
Thirdly, investing in 88E does not entitle you to become a millionaire. It does not entitle you to make any profits. It does not safeguard you against losing your entire investment. If all of these things were guaranteed, we wouldn't be at 4.2 cents. Again, most people would be priced out of a "sure thing". Being a shareholder, however, does entitle you to ask questions. It does entitle you to answers, and everyone is welcome to share their opinions. But let's be honest - If you think that the board is screwing you over, best leave now, since the board, as such, is your investment. I mean, if the new funds help to acquire some kind of pie, perhaps a better shot of making a big pie down the track, is that not better than failing? Personally, at this point in time, I would take a measured safeguard over the all-or-nothing risk I took when I first invested. The reason for this? Quite simple - It is prudent to do so, although I do believe that 88E will succeed, to some extent, even with a few setbacks. Honestly, would you rather put a tarp over the hole in your roof before it rains, or after? Dave and his team don't even have a hole yet (to my knowledge), but I am glad they now have a tarp in the shed... just in case. Just like investing, everyone's mindset is different. But if you believe that every single cent of value in 88E is going to be extracted with surgical precision, for your benefit, and that there will be no losses in value anywhere along the way, then I can do nothing more than wish you all the best with that... Just beware of the fall, that's all...
Lastly, (in the nicest possible way), if I ever end up on life support, I don't want any of you within half a mile of the hospital! If the trust-pin can be pulled on Dave and his team so quickly when there is so much life left in this stock, then I would be a goner, for sure. Pull the plug. Be done with him. Off you go son. I'd rather be given the chance to pull through, thanks...
*** To add, I have been guilty of talking about "boarding trains" and "jumping on the rocket" and other little catchphrases with 88E, so don't think that I want to deny anyone the chance to dream. I just feel that my renewed opinion on "success" is far more measured, achievable and mentally-relaxing than riding every single pip. But hey, like I have always said, I am a firm believer in each to their own.
See you all in another 6 months.
Regards, AP
Footy season starts tonight. Good chance to take a break from all the worry... Unless your team stinks!
=)
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.86M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.2¢ | $31.76K | 15.34M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 14573501 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 473268494 | 221 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 13210001 | 0.002 |
222 | 902354202 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 435695727 | 211 |
0.004 | 268594591 | 99 |
0.005 | 111579541 | 42 |
0.006 | 36092900 | 34 |
0.007 | 24363917 | 21 |
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