....I think Kobi and his mates put together an opportunistic business plan built on a pie in the sky technology which has not gained any traction and they are now probably planning their exit
Unfortunately I smell a duster for the retail investor.
The pointers came to a head when some organisation over the last 12 months, began loading millions of shares at whatever price they could get - driving the share price into survival territory.
imo they knew the fragile ground this concept was built on.
The production sales agreement with PT Garda Persada announced 6 months ago, appears to have come to nought and this condition has probably already been fired
The joint production agreement will expire if the parties cannot finalise and accomplish the preconditions with the three/six-month period;
My call is that the next announcement will confirm the cancellation of this "arrangement" virtually leaving UTR with bugger all but a cocked up business model built on flimsy technology.
imo as I see very little to suggest otherwise.
UTR Price at posting:
1.1¢ Sentiment: None Disclosure: Held
