The issuance drive by Saba et al continues in earnest. Once these shares, the convertible note stock (Belgravia) and milestone issuance for CDFS hits, we are up over 2bn in fully paids - no consideration given to almost 700m options (Belgravia to be issued a stack of free options as well).
When I first bought into Cipherpoint there were 300m shares on issue. A lot has changed since then - obviously long term growth requires investment. But when I look at the quarterly's all I see is a cost explosion; since 2nd quarter 2021 revenues have only just doubled despite the group "growing" significantly in a hot space (cyber) in that time.
Even an EPS of $0.01 requires Saba to miraculously get net income to $20m or $5m/qtr. These paltry acquisitions that continue to dilute the shareholder base, add significant costs without the commensurate addition to revenues is just resulting in a situation with the tail is wagging the dog.
What is Saba's grand plan here to turn this growing group into a profitable one that results in both significant capital growth and ideally a dividend?
EXT Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
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