Ok, please let me know why I should be excited about this announcement/development.
1. PIL was given team of people who were losing money for PIL from day 1. The justification was it will make money after finding synergies with current business and every new contract was announced as big Huray. 2. After streak of quarters losing money, we get announcement that the business is being sold to focus on primary activities with the excuse that it will allow Neal and the new guy to focus on building/developing what they really need. Huray!
Q1. Could someone tell me why they did not involve Neal and the new guy (or any other guy) 1 year ago while avoiding the losses over past 4 quarters? They are now saying that covering the loss is somehow getting them more money for the development?
Q2. So if I understand the logic, if I make eg 250k loss and then I get the 250k recouped (I doubt PIL will do however) that makes me somehow richer?
Q3. Isn’this more like getting a bit more money for their salaries, something like when junkie sells the last piece of furniture just to keep going?
if its so exciting news, I expect the directors to chip in and buy their stock. Not gonna happen as making money through share price growth has never really been the goal….
JTC
PIL Price at posting:
0.6¢ Sentiment: Sell Disclosure: Held
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