Ann: Quarterly Activities Report and Appendix 4C - 31 March 22, page-10

I truly and sincerely believe that one must be a moron to think that a business like this could be worth 16m ev.

To be fair the company’s share price performed brilliantly in recent times for those who were trading it. Aside from that the valuation that it was reaching was fairly mind blowing. IMO it’s likely that it was the dark market forces of pumpers and dumpers that led to the sp rise and subsequent decline of this dud.

Knowing they will be running out of cash soon it will be interesting what the clueless managers running the company will do to secure funding. My thoughts are the dilution will be heavy and made to some sort of vulture like financier. After all, previous lenders had to take significant hits from their loans to the company. So we know this company is likely running on borrowed time and I would safely assume that selling any pumps on this and remaining short would be money making strategies. In fact if I had the financial and technological capacity, I would give this the valuation it deserves which imo should be about 3-6m ev so that at least the next fool who sees this turd as an opportunity can buy the shares closer to fair value.

Have any of the poor buy/held people on this forum tried contacting management at all? I mean, we know they are busy burning money pretending to run a “successful’ business, but when you can’t even get through to the management of a small and unsuccessful business, it makes you wonder how much they really care about shareholders. I know because I tried on multiple occasions before, to no avail.

I would tread with caution here to anyone thinking of buying. At the very least if you’re taking a punt, do it at the same stupidly cheap levels management have previously bought shares at. Otherwise I’m happy to put this one in the “wouldn’t touch it with a 10 ft pole” pile as the risk of insolvency here could be high.

gltah and dyor