Investor Briefing Perth, page-9

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Upthefog

1,696 Posts.

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23/02/20

08:51

Post #: 43094446
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Originally posted by Galilee13 ↑

Don't get me wrong. I do not think Yacov and for whatever it's worth Brendan are any sort of gurus.

I agree. The absolute BS that the both of these guys have spun over the past 2 years is concerning. It's a joke. But, neither of these guys are actually making any money out of this. Yes Yacov takes a wage, but he's ploughing so much back into the company via debt for equity and on market purchase. Brendan has been buying options and all directors are taking stock instead of fees. I think last years director fee stock was issued at 20c.

If these guys were being issued stock cheap and then selling it for real cash. then yes it's a compete joke.

At 8c and falling it's doesn't seem anyone is winning ATM.

So how does yacov plan to raise $10m with a falling share price and a reputation of spinning BS for the past 2+ years? My bet is the raising won't happen and Yacov will be on the hook for the Manga CN, which will probably be best for all shareholders. On the other hand, to get the raising away, new and existing shareholders will want to see approvals, contracts and revenue. Which if achieved in the next few weeks, then followed by an investor roadshow could result in positive share price momentum and less dilutive raising.

But I doubt it.

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Last para says it all. The CEO has little credibility in a corporate sense so the nagging doubt that remains with me is who in their right mind would even invest $10m (at any issue price) UNLESS there was something in the short term wind? There are surely no white knight investors who would believe the company after the litany of BS, spin & failure & SP decline of the last 2 years. I’m just trying to be desperately optimistic here.

GMV Price at posting: 8.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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