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pianopiano

463 Posts.

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18/11/22

14:04

Post #: 64857465
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Originally posted by SteveSage: ↑

I'm not sure comms is going to change anything....it's the same leadership that said 50m in revenues in 3 yrs and more recently 70-100m revenues........all nonsense what hopefully a new CEO will throw in the bin and give us a more frank view.

The positive is that they have cash (probably ~8m after they paid for GJD) and none of the businesses are bleeding a lot of money so fingers crossed no cashflow issues over the next 6-12 mths based on the existing business.

Apart from lack of execution (and constant messaging that 'its coming in the next half'), the thing that is most painful is that shareholders are underwater because they had to pay tax on part of the purchase price of the shares......if you bought above 35-40c, that leaves a bitter taste because not only do you have tax on an unfranked dividend, but you also stand to take a capital loss....you have lost out in 2 ways & I cannot fathom how mgmt did not understand this and change their minds after the tax office knocked them back (and note that like their business forecast, they seemed very certain on the appropriate tax opinion).

As I said, I would have sold earlier, but the key positive keeping me here is (a) no perceived immediate cashflow issues, (b) FFT installed base seems to indicate they have a valuable asset/technology, and (c) optionality in terms of better monetisation of FFT and also things like Aura IQ......lets hope that Mal Maginnis can deliver

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i bought more. It's going to bounce to at least to $0.26 on the next bit of positive news. It's back to where it was pre the last quarter announcement based on nothing and no volume when in reality the momentum will be continuing if not building

AVA Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
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