The regulator has got to come down hard on these sort of companies. In IOT's and MUS' case they were small market caps so the regulator probably doesn't care. In GSW's case they had a fully diluted market cap of nearly $1 billion at one point so they might be worth making an example off.
Management of these companies totally misled investors. Anybody familiar with IOT or MUS know what I'm talking about. In GSW's case you just have to read the initial CBA announcement:
There's no mention whats so ever that there's an initial pilot project. There's no mention that use of their "Software as a Solution" is optional. There's no mention that nothing may come of this project. There's no disclaimer of any sort. It reads as if it's a done deal. It's totally misleading.
GSW Price at posting:
$2.92 Sentiment: None Disclosure: Not Held
