The answer is quite simple. Our Lord and Chief Dave valued our company at 6.5cents and then dropped it to 5.5 cents, thats how much he thinks the company is worth and thats exactly what the market followed in a speculative penny stock.
After that action was attempted and cancelled (with most people not buying the reason why it was cancelled), we now know another CR will be attempted next month and like historical fashion, our Lord and Chief Dave will offer another 15-20% discount. 20% discount on 5.5c is... 4.4cents. So thats pretty much where we are at. A vague, future CR to be raised, no clarity on how it will be done, when (early Jan? Late Jan? knowing these guys they will miss the time line anyway), how much, etc. So welcome to 4.5c for 30 more days or until we get clarity. So buy on market or wait for the CR discount with free options. Its a no brainer.
Just remember, Dory was good enough for PL3 and PL4, but is now being blamed for... something for PL5 and PL6. PL5 has had issues with no clarification (will defer to Khoutams positive spin on the theory as its quite frankly the only theory that makes sense), yet we're expecting PL6 to be successful at the first attempt of fabricating at 20nm? I find it hard to swallow if I'm honest. I was expecting PL5 to be successful and PL6 to have issues, not the other way around.. but again, we're lacking information and clarification.
Also in regards to the tech - we've had no progress update in over 13 months. PL5 and PL6 are still a mystery. Until the results of either or both of these are provided, don't think there are too many people willing to risk any additional amounts of money with so much uncertainty. Only downward pressure on the SP, nothing to uplift it based on the current actions of the board. The tech is why we're here, if we didn't believe it had potential we wouldn't invest. If we thought it was a failure, we would exit. So the tech remains as status quo because we have no new information to go on.
4DS Price at posting:
4.6¢ Sentiment: None Disclosure: Held
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