I like to play a devil's advocate. This company is very risky and has failed miserably to date. 1. Took forever to launch in the US 2. UK was a disaster 3. Increasing facilities has come at 50% dilution 4. The directors self confess they need more capital in the next 12 months 5. You can't believe that the Australian business will be profitable in 12-18 months when the business reports increasing losses and more than 70% of the result is due to Australia. The growth profile is not steep enough to achieve profit in this market and in that time frame.
I don't like seeing people lose money investing in this share. All news to date is depressing, however for the first time I agree with the business strategy to pursue profit. They simply miscalculated their cash needs 12 months ago and are facing huge dilution to survive.
OPY Price at posting:
38.0¢ Sentiment: Sell Disclosure: Held
