Ann: Application for quotation of securities - HMD, page-9

i didnt expect to see the SP down here, but....it deserves it. I believed the CNote conversion milestone showed a strong path forward and that management were confident. Once the JHC deal was done a bit early than i expected i thought that was the beginning of the 'big bang' but no....i gambled i lost. That the CNote conversion milestone was not hit now telegraphs to the market that management are not progressing this as expected. The conversion price being so low increased dilution and the 1:1 options (instead of 1:2) means even more dilution....ouch. No additional pilots have been signed....what 'pipeline'? Mix this in with the macro conditions which has seen multiples for med & tech shares plummet across the board suggest to me this could go much lower in the absence of news, HMD is still richly valued on any financial metric.

On a weekly chart HMD is now at the long term trend line dating back to the covid lows so for anyone buying now you're fighting the good fight. Personally i still believe long term but i cant justify risking anymore based on current market conditions and the information i have available from HMD.