Sled Race, page-476

The unprofitable ASX tech companies exist solely to enrich the directors. They require constant 'growth' or acquisitions to hide the fact the business is just a ponzi. They are never likely to be profitable (except by using bogus account methods). They are essentially worthless by any legitimate valuation method. The baffle investors with BS to hide the fact that the company is just a steaming pile of worthless elephant dung.

One ASX tech company has just a minuscule five figure annual revenue, admits it's 'mass market' device consist of just 7000 units (which are probably worth <1% of their manufacturing cost) and that volume sales are probably five years away. The company's 'business plan' consists primarily of disparaging competitors, making wildly exaggerated claims and implying (non-existent) business deals with giant corporations. The CEO was terminated, a director recently resigned for 'family reasons' and another director just flogged $8 million worth of shares (which cost him nothing). Yet it has a market cap is approaching $1Bn. Jut idiotic.