Understandably, lots of angst and some decent venting, dominating the posts.
So here’s mine!
For me, I‘m not quite sure how I feel about what has happened.
The company had shown so much promise, had great support, but incredibly is now just s….!
Sometimes I am bemused, sometimes cranky, but mostly just pissed off.
Not only with the company and its performance, but with myself.
Hindsight is a wonderful concept, it’s just a pity we can’t use it, or more importantly learn from it.
I am sure there are many long term holders, like my self, who bought in years ago, on the understanding that it was a highly speculative play.
Then in late 21, when the share price hit around $0.60, weren’t we all very pleased with ourselves.
How smart were we to have taken a punt on IMU!
Unfortunately, many of us didn’t take the opportunity to realise the benefit we were presented with - and that is entirely on ourselves!
Huge congrats to those who had the foresight and courage to take the benefit at that time.
Mind you, I must remind myself, that I was in fact was very fortunate at the time and I did sell what is now a small parcel.
By chance, it was my wife’s 60th birthday and I did sell 100,000 shares and with the proceeds bought her a new RAV 4 Hybrid Cruiser as a present.
At today’s price, the same sale wouldn’t even buy a new set of tyres!
Any way, the main issue for us now, is what do we do with our investment in IMU?
Aside from some very slow trial results, which to be fair continue to show promise, how confident are we that the current management and board are capable of commercialising any of our products, should they prove successful.
Also, how much money will they continue to burn before that could happen.
It is very understandable that those that can get a benefit though tax losses at this time of year, should reasonably consider that as an opportunity.
In my position and I am sure some others, the majority of my shares are held in a SMSF pension fund, that offers no tax benefit.
Accordingly, my decision is to continue to hold and accept the high risk that is now associated with continuing to hold.
I won’t buy any more, even at the current low price, as firstly, I would have to sell some well performing shares to finance the purchase and secondly the current performance of the management and board, just hasn’t given any confidence that they are capable of turning things around.
Unfortunately, they keep burning money like it’s growing in the back yard and have done nothing to earn back the respect and confidence of a majority of shareholders.
Good luck to those who choose to move on, it’s probably a good call and to those of us that stay, we can just rely on hope and some good luck.
What ever happens however, it will be our decision and responsibility, given where the company is currently at.
(20min delay)