Total cash spent on the buy-back to date has only been approx. $167,000 so really no significant impact to their cash balance. I'm happy with the buy-back option as at least it puts a floor under the price. Management should really be buying shares on-market also to show confidence in the company.
I do agree though that if they're not gaining traction with signing on additional OEM's or dealerships, then more cash should be used for product innovation (i.e. alternative revenue streams) or bolt-on acquisitions.
I don't think the semi-conductor chip shortage is now enough of a reason for there to be what feels like stalled progress.
Just my 2 cents worth or in CXZ case... 1 cent worth!
Ann: Appendix 4E, Financial Statements and Annual Report, page-12
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Last
2.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $24.55M | |||
| Open | High | Low | Value | Volume |
| 2.8¢ | 2.8¢ | 2.8¢ | $9.809K | 350.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 6713150 | 2.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.8¢ | 1500000 | 1 |
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| Last trade - 14.29pm 07/08/2024 (20 minute delay) ? |
| CXZ (ASX) Chart |