I guess that’s the craziest bit of all… no one cancelled any contractual terms… not that $14k revenue last quarter was much to pull the pin on…
from here, it is kind of shit however… from here HMD is a very cheap start up with 12 months runway and enough issues capital to create plenty of liquidity. There is a brand new board and the founders have been effectively diluted to oblivion. If you look at HMD as priced at $6m and $2.5m or so in the bank with $200k USD about to hit the tin then it isn’t all that bad. If you are in a position where you’re average price is many multiples of the current price then it is a more than a bit rubbish however it is still an ongoing concern and might just find some traction to 2-3c and beyond.
Slightly different but once upon a time there was a very blue chip business named Burns Philp, there was a lightning raid by a kiwi businessman and a takeover at $2.54/share… ended up worth 18c or so after revelations of horrific accounting and basically corruption… Steve Hart had a career defining moment and ended out as a billionaire. Dunno mate… might just all swing around
HMD Price at posting:
1.8¢ Sentiment: None Disclosure: Held
