Completely agree Dru. These are decent volumes on the sell down, reflecting investors losing patience. Clearly there was an expectation this API deal would generate significant revenue up front and this wasn't the case.
This was a strategically important deal. It was the first 'proof of concept' deal and with a business partner well established in the digital music industry. What we need to consider are: There will be other API deals coming this year with resulting revenue. The Songtradr API goes live this year with resulting revenue. JaxstaPro goes back to a paid model this year with resulting revenue. Jaxsta.com e-commerce goes live this year with resulting revenue.
To achieve these milestones requires minimal investment as the asset is largely build, so a CR isn't required. The margins on this revenue will be high, whereby generating earnings that will increase the future value of this business.
To be blunt its been a really disappointing week and I'm sick of the red. However, I still remain really excited for this business and continue to hold and accumulate where possible.
JXT Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
