The brief 2 pager is not enough to explain this... "the decision was not taken lightly", "the shareholder meeting is cancelled" and "we will pursue ASX listing sometime in the future" is just not good enough when investors have just seen their investment halved. The market expects answers and a brief paper like this is not good enough.
The company may be cash flow positive at some stage soon, but managementis undermining the good work through a multitude of bad decisions... wtf is going on.
I'm down so much ... there is no point selling, so I'm stuck with SGX shares from October onwards, and a patient painful wait whilst the SP inches back up to fair value over who knows how long.
I'm removing this from my Watchlist ... call me a bag holder. I'll call myself a long term investor and someone who now has to sit them in the bottom drawer - I'm down that much what else can I do.
And to think I mistakenly thought that 0.37-0.40 was our base a month or so ago
TAW Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held
