My concern remains their inability to talk straight. Glad I didn't bother with oppies (the next lot might be worth a punt tho, if we last that long).
They mention a 400k loan facility, as if to suggest that's useful. Pretty sure that was only for manufacture expansion; if used it would only last a month, would ruin one of the few positives we have - debt free, and provide the catalyst/excuse for a t/o by for example MM and/or Corr.
They could ONLY raise 100k from 'sophisticated' investors.
When we were told there was enough cash for '17 it was obviously not true. Only a few months back they said there was enough cash for '18 - also untrue.
There was the nonsense of saying they'd shored up the balance sheet. As for shoring up the registry this would be true if many more small, sophisticated and institutional investors bought in; instead we are increasingly at the mercy of MM's & Corr's integrity - a bad position in this game. However by now Navigant would have provided a range of valuations based on various methods.
Still no word on progress to date. And where in all this dubiousness are the 'independant' directors.
Late May if we're still alive e1m might come from options. Don't know when the likely r&d refund might come; soon?
Simon suggested a value of 1b if a deal happens. Given the co's poverty, and it's demonstration of inability for the product to gain sales traction, I'll go .03c/sh with a 5% royalty. What do you say...?
ALT Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
