So they have no customers but are still projecting sales of $25 to $35M....
So now lets look at a few other coys on the asx that have a market cap of $115M or SP at approx .30c and have sales at $25 to $35M.......
Lets look at previous market darling EDE...oops not a lot of sales there....
AJX.....SP around .50c
RAP....Nope, no sales there
The product QIN produces is 'real', it is not a virtual product, it already really exists. It has a value, irrespective of what we think that value should be, there are customers for that product out there, so why are we treating this coy as if it was a tech/pharma stock?
A debt to equity swap would place QIN back into stability very quickly IMO as without any pressing need to repay debt, the coy will quickly sort its sh*t out.
I agree the board and management has done some dumb stuff, they deserve a spill, certainly a strike, but the inherent value of the products exists. Whether the coy can survive to receive that value (and therefore the shareholders) appears to be a game that is being played by others that the SH have little say in.
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
