Ann: iCar Asia Limited provides 2016 revenue and EBITDA guidance-ICQ.AX, page-14

Wow, this is shocking, I sold 30% of my holding in the late 70s when I smelt something wrong and unloaded all but 5% today.

I could reluctantly buy Q2 revenue being down on Q1 given the seasonality we've seen in prior years, however for H2 revenue to be lower than H1, we are in real trouble as this represents a huge change in trajectory from prior years...

The cash burn also guarantees a capital raising, and a capital raising which, with the current share price will heavily dilute retail holders.

I'm also worried it won't make it to profitability period. Falling revenue makes no sense at this stage in their lifecycle and puts the entire model in question.

I've kept a small amount so they don't fall off my radar because I believe there is a chance of one or more of the following
(1) the new CEO is deliberately setting expectations very low
(2) there could be a takeover; and / or
(3) the investment in the business could get it back on track

in which case it could yet become a $1b market cap stock. If I see signs of (1) and (3) being the case I'm ready to load up the truck but short term I think this is heading for 30c...