They are only down if they sell. They aren't selling, in fact they are buying more. Once revenues come kin you would expect the SP to increase and they will then have made money.
i have no concerns with their cash balance, croc has explained the requirement for the 2 months cash reserves which isn't an issue. First customers for the product have already been determined as per today's announcement. Validation of product is expected to take 2 weeks to 1 month. Much less than what you assumed. Revenue will be coming in shortly, there is still access to additional funding if required, so all good.
Ann: Quarterly Appendix 5B Cash Flow Report, page-131
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Mkt cap ! $83.90M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.5¢ | 12.0¢ | $24.80K | 202.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 8 | 298878 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 12.5¢ | 100407 | 3 |
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| Last trade - 15.07pm 30/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 12.0¢ | 12.5¢ | 12.0¢ | 50000 | ||
| Last updated 14.13pm 30/05/2024 ? | |||||
| WKT (ASX) Chart |