I keep a watchlist through my Canadian broker of North American Blockchain companies in the small cap space. It's surprising how many of them have either ceased to exist, or gone into administration, or merged for next to nothing, or have been halted for more than 3 months, or have no directors remaining - and similar problems. And of the survivors, those I watched a year ago have gone from 50 cents to 1 cent.
It's a very sad state of affairs if you look at the macro indicators for small cap Blockchain companies. I'd hate to see another GFC, because there wouldn't be many left, and those that survived would be less than 1 cent.
It tells you one thing about this asset class - the bubble and hype is well and truly over, hard core reality has set in with a vengeance, and that reality only worships one factor - Profit.
So buckle up for some rough times ahead, and simply pray for survival.
The main problem, like most of these technology innovations over the years, is that they never live up to the hype, and their technology if it is any good can by hybridized by the big tech players anyway. It always happens in tech.
I have to be honest and say, although I love Tymlez (Timeless), I don't think it will be Timeless, and I will be surprised now if it actually survives. It may become just another casualty of yet another tech bubble that was over-hyped by the same fund manager crew who have been doing this within the global tech space since the tech bubble of 1999, and they are still getting away with it. I think Blockchain may be cast into history along with Object Oriented Database systems and a dozen other hyper-blown disruptive tech inventions that never amounted to much.
I feel sorry for those who put a lot of money into Blockchain, and into this company, because the directors didn't. Like all directors of small cap companies, they give themselves millions of shares for nothing before the float, so they never actually lose, it's only the mum and dad investors who lose, and quite heavily sometimes - as always.
These guys are getting revenue of only pennies at the moment, when will it change, how will it change, what is required for it to change?
Unfortunately for TYM, we don't get many announcements, because there seems to be simply nothing to report very often.
I hope these guys have a Plan B.
I'd suggest a couple of things. Before they run out of money, and prior to Blockchain being assigned to the dump heap of history, they might consider turning the company private, or exiting the ASX and listing in Germany (Frankfurt). The ASX is definitely not the place for this stock now! The other thing they may want to think about, is merging with 2 or 3 other Blockchain companies, simply in an attempt for the 3 or 4 Blockchain companies in the merger (and their shareholders) to survive in some shape or form.
Desperate times call for desperate measures, and a little bit of lateral left field thinking.
Gw
TYM Price at posting:
7.7¢ Sentiment: None Disclosure: Held
