Another P&D today on an announcement which didn't really tell us much other than what we already knew.
Not surprising, those diligent enough to read & understand the current financials whilst trying to understand the potential value of this company (i.e. now and in the foreseeable future) would realise that there is a massive disconnect between current revenue growth (STILL less than $500,000 generated in 8 months) and an increase in financial losses (almost $10 million last half).
Even if revenue were to double or triple in the next 4 months, then that still constitutes a disaster for investors IMHO. Why? Because the numbers STILL don't add up.
So where does this leave investors?
In the short term, straight down the garden path of another CR unfortunately.
Neatly spaced (approximately 5 months apart), if history is any guide the next one is due.....wait for it...NEXT MONTH.
What do you think the price will be?
8c? lol although I genuinely do feel for those believers that thought that the offering was cheap back in November, now they are almost 40% down on their investment if they continued to hold.
So let's half that and I'd suggest that we're somewhere in the ballpark for the next CR.
After that, the pigs will probably need to revisit the trough again later in the year until shareholders are eventually diluted to kingdom come. Why? Because revenue growth just isn't anywhere near fast enough to balance the books in the foreseeable future.
GLTA
NOR Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
