Max, I'm with you. This seems crazy. I don't have a deep understanding of all this but my first thoughts are that someone is now going to get access to another massive pile of low priced options to flood the market with later and make millions (assuming the SP improves of course). More dilution?
I get so tired of making the point that these guys are the Olympic Champions of raising money. It is a sad co-incidence that today is the 6th anniversary of my first purchase of MYA shares. Over that 6 years they must have raised in the vicinity of $100 million. To what end???
They have all these employees and contractors banging away all over China, Japan, and in Australia, and they can manage zero customer receipts for a whole quarter. IoT labs popping up everywhere but no customer receipts.
We are still hearing words like pilot, getting ready for deployment, commercialising, developing, next quarter, blah blah blah.
On top of that there are experts in this forum who are adamant that the whole basic premise of the product and the business model is completely and utterly flawed and the whole business is ultimately doomed to fail.
I still take solace from the fact that there are buyers, that other experts believe in the business, and the West Coast Eagles list is looking really good for 2020
I recently moved my take-off date from early 2021 to mid-late 2021. I'll stick with that for the moment but if the next quarterly is not full of money in the bank then 2022 might be the year. I think in the November presentation there was a chart that suggested they might make $1.27 profit in 2022
....... hard to feel good about this right now, but what's another few years on top of 6 so far ..........
NET Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
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