I bought at 2.2c, sold at average 2.8c last week on the announcement. I held 1.2% of outstanding shares just as a little punt on a share. Heres what i have found in my 5 months of ownership. 1. Management has no direction. 2. The sale of assets needs to happen but everytime they do, they go further backwards. 3. They have current liabilities of 3.2mil and current cash and eq of 500k from memory. Horrendous balance sheet. Obviously, 850k will help initially to reduce this. However a reduction in revenue of 2mil will severely impact the comapnies ability to pay other short term creditors through cashflow. 4. I don't believe management is trying to destroy the company, i just believe they have no idea, no strategy, no business plan. 5. All the Thomas Cyber employees have left, given up their shares and get 0 payment from the AI1 acquisition of Thomas cyber - this points out how painful they must be to work with, and how little the Thomas Cyber CEO valued the shares in AI1 after working for them. 6. They have no product, they are selling a third party software for their cyber security.
DYOR, this is not financial advice just my experience/opinion.
AI1 Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
