BRN and WBT are both overpriced tech companies IMO. Massive valuations for the low revenues.
There are profitable ASX tech companies with much smaller valuations than BRN that are making $50m revenue/year.
The investment thesis in BRN is powered solely by hope. 'Hope' that significant commercial contracts will be signed that lead to significant revenue. That has not yet happened, investors can only hope that one day it will.
BRN doesn't currently meet any of my investment criteria. I hear the rampers cry out: 'you'll have to pay more after big contracts are signed'. Of course I will, because the company will be somewhat derisked; I don't want to currently pay for that level of risk, nor does it appear that any cornerstone investor will.
BRN does provide liquidity and trading opportunities. And hope, let's not forget that it provides hope to many retail investors.
BRN Price at posting:
22.0¢ Sentiment: None Disclosure: Held
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