It's extremely disappointing to still be trading at a 44% discount to the 5c capital raising over one month since re-listing.
Due diligence on the acquisition was completed on 7 October 2015, almost 6 months ago now. In fact, on 13 November 2015, around 5 months ago now, we got an update from the CEO of Zyber stating that:
"During the past three months, we have increased our investment in resources and grown our administrative and development staff to accelerate our aggressive product development road map". If work to date is aggressive, I'd hate to see conservative.
Since then, a Company Update on 18 January 2016:
"The company is expected to relist by the end of January 2016" = Fail.
"Zyber is planning to commence trials with five large enterprise companies in the
next two months" (ie. by 18 March 2016) - 1 contract to date = Fail. And the presentation, a bit over one month later, now says its "planned over the first two quarters of 2016". What's an extra quarter between friends?
"On track to roll-out new version of Zyber's secure file sharing software in Q1 CY2016" (ie. by 31 March 2016) = Fail.
All just blah blah blah, fail fail fail.
Not to mention the proposed capital raising.. haha. Give me a break.
Easily in the top 3 most disappointing RTO's of all time.
ZYB Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
