I agree a CR is required. It will accelerate development of both the product suite and market place. Plus provide a strong positive message to the market. Pre COVID revenue was growing impressively, trending upward strongly. If COVID didn't hit who knows what it would be now. I think something is going right in that respect and management should be given some credit. On the CR front, they haven't been able to align with the right people and couldn't get the funds. They lose some credit for that. They're just not hitting the corporate trail hard enough. Being based in Perth probably doesn't help with the strong resource focus but really what is $2.5M? someone picked up more than that in 3 days of trading. CLEE and the new substantial holder might be part of the answer regarding funds. Plus there will be some investors who have done pretty well out of the most recently CR.
Two strong quarterly revenue reports and you'll see the share price rise, they can wait 6 months and back in the share price rising before the next CR. I am not sure 10 cents pre CR is achievable though. Directors and management are always lined up for a whack from shareholders but with these types of companies it is very hard to judge them. I am pretty confident that with their own significant holdings that their interested are aligned with the shareholders, you can't ask much more than that.
PIL Price at posting:
3.0¢ Sentiment: Hold Disclosure: Not Held
