This is just another perfect example of these guys only releasing enough information to satisfy ASIC and leave shareholders uninformed. I more than halved out three weeks ago at a 40% loss over three years, i would have sold the lot if I wasn’t going to push the share price sub 20c, a really disappointing investment for me as i was once 40% up. i put this down to managements execution and treating their share holders like a silent bank rather than a part of the company. I can’t remember the last announcement where It wasn’t the same rubbish copy and pasted, missed timelines have also been dismal, two years of the nano basically being completed and we are yet to see any significant sales. At this point i also do not believe they are even undertaking any R&D on their future products and things have come to a halt. As for the strategic alliance this was seen to be the future of this company and Peter was quoted saying that they felt very confident they would get a premium on the deal, what we really got was 10mil dilution at a discount. (With current cash burn that is 12months)
I would honestly be surprised if micro-x could get another product to market in the next few years and have therefore lost any form of confidence in the company
MX1 Price at posting:
24.0¢ Sentiment: Sell Disclosure: Held
