This stock is the most puzzling thing I have ever seen on the...

This stock is the most puzzling thing I have ever seen on the ASX! The buying interest just isn't quite there and there's lots of manipulation taking advantage of this right now on market IMO.

There's so much junk on the ASX but the market just can't seem to understand yet that WSI is the real deal.

$15 million market cap with $10 million cash in the bank for a stock with $30 million contracted revenues for the FY just three months in...

It's also IMO likely WSI delivers an NPAT of at least $2-3 million this FY and possibly as much as $5 million if things go really well.

So I think it's starting to look like the upcoming quarterly due end of October may not be cash flow positive (no surprise really considering they received a few million in advance last quarter). Then there will be accumulation down here for a while before the price moves rapidly back up for the next quarterly and half-year profit results released early 2020 that will prove to the market WSI is worth at least twice the current share price (i.e. 5 cents) and possibly lots more if they keep growing.

The big question though is who exactly is going to be selling a large volume of shares any lower than this?! The last capital raise was at 2 cents and we currently trade at just a few pips more than that. WSI has retraced 50% from the peak of the pump to 5 cents. So I just can't see how anyone acting rationally will be selling any size much lower. Even if the next quarterly is perceived as poor, most investors will realise the share price will be much higher next year so will hold. There will also be many traders and investors looking to load up down here I reckon in coming weeks who offloaded during the pump.

There are dozens of spec stocks I can think of right now where there's so much money pouring in at ridiculous valuations... unfortunately, WSI isn't one of them just yet!

I plan to keep accumulating for the rest of 2019 with low expectations for share price appreciation and look forward to early 2020 when this thing should hopefully be more fairly valued!