What drove the share price up? I put it down in large part to the expectation created and summed up in the 16/12/15 Foundation for 2016 announcement. In that ann they indicated a base secured earnings value of US$18.5mill with an upside of US$44.7mill for calendar year 2017. Regular subsequent deal announcements supported the growth theory as did the increasing cash receipts.
What drove the share price back down? The fact that it became clear later that these deals were NOT profitable. They have since rejigged their business model but this imo has created a huge trust issue with the investment community.
The business has some great tech, we can see that by the way it has grabbed the bedding market pretty much whole. There is great potential however after being bitten once the market just isn't going to place as much POTENTIAL value on the company. Saying that it still is $100mill marketcap so that is not an unhealthy figure. I believe in their future but there has been a false start. Most succesful businesses have hiccups along the way.
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Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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3 | 695448 | 0.008 |
4 | 3349012 | 0.007 |
5 | 1009881 | 0.006 |
1 | 300000 | 0.005 |
1 | 500000 | 0.004 |
Price($) | Vol. | No. |
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0.010 | 1299225 | 5 |
0.011 | 1400000 | 3 |
0.013 | 240000 | 1 |
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