Undiluted at $1.1 bil SOI at 2.9c SP and $2mil in the bank left, the EV here is now at $30 million.
EV still too high for what IAM has achieved to date imo.
I could not justify an entry here above an EV of $10 mil, maybe $15 mil if I believed the BOOM portal would bring significant improvements to IAM's cashflow, which I currently dont.
The good news is expenditure hasn't blown out, but it is still around $500,000 per quarter above cash in. This means that at current rates they will be under $1 mil cash in Q1 2018 and have to start thinking about a CR, so IAM have 6 months to turn things around.
This is not impossible imo, but they really need to stop with the podcasts and the IAMLTH site and the twitter rubbish. They need to focus on driving revenue.
IAM Price at posting:
2.9¢ Sentiment: Sell Disclosure: Not Held
