IMO the directors purchased stock along with investors in times gone by based on its own story surrounding the business model.
The story v the reality of the business model application is where the gap appears.
Customer issues with contracts, payments, ongoing development costs, would suggest the culture within the organisation is somewhat erratic when implementing its business concept into the market.
It is in survival mode against strong market competition.
Top 20 shareholders hold 70% of the stock and the market shows little interest in the remaining 30% - ie 13.5m
Outlook - it will probably continue to limp along as a small operator in its own local market, requiring cash injections over time, displaying minimal upside due to lack of investor interest.
IME Price at posting:
43.5¢ Sentiment: None Disclosure: Held
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