There are still 59,821,792 options (including 3,050,000 performance rights) that are convertible at cheap prices. Only 1,375,000 are out of the money. Therefore, staff see the profits and exercise and sell into the buying. It is a problem that is out of the control of management. Unfortunately, it is a function of this company that the benefits of giving options are not easily quantified.
I am of the opinion that the market has an appetite for this loose stock.
Awaiting on the company to announce what has been happening behind closed doors. I am not perturbed by the share price action. On the surface, it does look poor. However, with the right news, there will be a totally new situation.
Institutions, Woodson Capital, Sophisticated Investors and myself has well as many other shareholders have bought this stock for a conclusion to the VISA/MASTERCARD pilots and the expected conclusion that SPLITIT will be the lead platform for these credit cards. The backing of these cards is essential for SPLITIT to be successful. I will wait for the company to play their hand.
Watch this space.
SPT Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
