Ok, so I sold out yesterday at .022, after buying in at .089. I'm new to the stock market, but I know that's not how you make a profit. Fortunately I'm small time, lost a few grand. Also, I don't have a family or a mortgage, so it only affects me.
Why did I sell? Well I was in Hanoi last week, staying in a cheap hotel with the worst wifi imaginable. I travel a fair bit, and due to years of struggling with Skype over slow networks, I figured that World Phone is something that a lot of people like myself would use. After trying to Skype a friend without success, I figured hey, this is a great opportunity to test World Phone. Everywhere in Vietnam has Wifi, the locals rely on it a lot, as the cellular networks are poor, and comparatively expensive. However before I asked my friend to install on their device, I thought I would try Facebook Messenger. I spoke to my friend (in Turkey) for over 40 minutes, there was a slight delay, but the conversation was crystal clear, with not a single dropout. Most people I know already have Messenger on their phone, so what is the point of World Phone? I would've tried it to call someone's mobile if it gave me a 5min trial, however 2 minutes free??? That wouldn't have told me much. so they've cut their expenses, but look at how that's impacted download rates.
However the main reason I got out is the blurred BT symbol in the presentation people on HC have been referring to. This seems very dishonest to me. Why blur it out, why not remove it altogether? Why imply a deal of that magnitude when there is little substance in the VNPT one to start with? I was also thinking, if a decision maker at VNPT were reading these posts, they would run from a NOR deal as fast as they could.
Then I started asking a few more questions. Why has it taken so long to build Corona? Will anyone want it this time around? Why didn't NOR raise more cash when the SP was 8c? Why has there been so much insinuation of pending deals, yet nothing material? As one poster asked, why are they not contactable by phone at 5:35pm on a weekday?
I also think Holla is the only person left on this forum who's faith hasn't wavered, and it's the sentiment of people like him who kept me in NOR for so long, however who's to say Holla isn't Paul O. himself, saying whatever he can to keep the ship afloat?
I wish everyone the best of luck, and will keep reading these forums, but now purely for entertainment. I may try again if the company appears to be heading in the right direction, but I won't be holding my breath, and am posting this as a warning to anyone who believes the hype of the posters on here who think the future is bright for a company that's been around for a while now, yet still can't turn a profit.
In hindsight, ex Telstra and Vodafone staff? What the hell was I thinking???
Expand
