I agree too little too late from management. They did take part in the last capital raise at a premium so kudos for that however the cash burn over the last 18 months for results isn’t sustainable.
They have just spent more of our money on a consultant to go jetsetting and tell us what we already know in that the tech is solid but isn’t getting converted into revenue.
Peak ran the last raise at 1c and then continued to buy on market the whole time back to where we are now so obviously believe in the company. They obviously aren’t happy with recent events and want change. I have followed their business for a while and unlike a lot of other companies in this space they often support companies that they promote and raise for by continuing to buy on market. If they think they can turn this around then I have more faith in them than current management and have voted down all resolutions. There will be capital raising regardless but I would prefer to have Asx oversight overall.
As I previously mentioned if current management offered something more concrete than a vague promise of overseas investment I’d give it more thought. To sign all my rights away and delist I’d want to see a guaranteed multi-million dollar backing by someone which they clearly don’t have. Imo they are currently just trying to shake retail out.
TYM Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
