Simply, Ian has lost the trust of shareholders. The story and the business model has been eroded with the continued uncertainty of ACV, coupled with a poor H1 FY23 result that should have been followed up with a revised ACV figure, that has yet to see the light of day. The optics are terrible and punters have savaged the SP accordingly. It's the opportunity cost for me now, having forgone the paper profits that I could have crystalized and put elsewhere. It was my decision to stay, so I will wear the lumps and bumps of that outcome. A painful lesson learned. It will take years for the SP to recover on the back of financial results that bring with it, a much improved cash position. A CR would be disastrous at these SP levels, so management and staff will have to batten down the hatches and trade their way out on the back of their blue chip customer base. I hope, the all important staff members of this business are up for the task. Even if the company jagged a DoD contract in the coming months, it will probably be nothing more than a sugar hit. For some, like myself, this journey started 4+ years ago. Looks like I am starting my investment journey all over again with 3DP. Investing is certainly not for the fainted hearted at this end of the ASX. I will be very interested to read/hear what Ian has to say to the market next....
3DP Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
