Well it looks like Nearmap is burning about $2m/quarter and achieving next to no sales.
The good thing is that they only have enough of our money to continue to piss it down the drain for another four quarters. They will then have to do a capital raising.
I look forward to Pinto et al putting a positive spin on this.
A 10c/share dividend from the assertion winnings would have been nice. Now The total value of the shares is 10c/share.
The directors should hang their heads in shame. They are not set up to be a venture capital fund, they don't have the diversity of portfolio, skills base or capital for that game. What hubris to think that they can pick winners better than anyone else.
I still think it will be good buying at 4 to 5c based on the assertion portfolio. However some directors should have enough honour to resign over this disgraceful waste of money.
Next time they have a win they should share it with shareholders and not look for the 'new best idea'.
Bacci
IPR Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
