Happy Friday All,
What a change from last Friday’s sentiment where we had just closed at another new ATH & everyone was all happy & excited for the week ahead. Admittedly we were terribly overbought on the chart & due a correction, but no true believer expected the CR news. Its obvious now that there were a few that did know of it though & gave hints on it coming & have since reminded us we missed those hints. Thankyou to those of you who tried to warn us. I appreciate if you are found out, it may put you in an awkward position with whoever told you about it. Now instead, many of us are having doubts about the management in raising when they told us they didn’t need to & the dark shadow that one of our board members may or may not have gone an easy option in orchestrating the CR with some suspect affiliates rather than pushing for a better deal in the interest of shareholders. You've achieved your goal of bringing awareness, can we please move on.
That being said, it gives us a chance to put things into perspective. Weve seen massive volume this week, result of the cheap shares & many holders showing their disappointment I suspect. Now weve had a couple of days to process everything, the selling should in theory slow a little & I hope stabilise over the next day or two.
Yesterday on the chart, MACD crossed over to bearish, we touched the 20 day moving average, and we are no longer overbought as we were. So hopefully will give anyone with interest more reason to consider jumping back in at a price far lower than they ever would’ve gotten in otherwise as the MACD crosses back over to the upside with a bit of buying when people remember the following…
As it stands, VR1 now has a sub $200M m/cap, $20M in cash, on track for over $20M in TCV by EOF. Remember in just the last 10 weeks, since quarterly, they have added $6M in contracts which you have to admit is amazing growth. CR gives cash in hand for expansion of offices & staff to handle the increased workload & still other M&A opportunities as they arise.
The CR situation doesn’t change the fact our partners & clients however who have seen in person the benefit in working with us. In fact knowing we have more in the bank they would likely feel more comfortable that we are not just a backyarder & that we will be around to support them for years to come. Any number of these collaborations in time could well bring in value far exceeding what we have to date…
Olivetti CEO joint presentation re ‘Beyond is Here’ Healthcare
Mutti expansion from 1 to likely entire 50 product lines
Cisco WebEx 3D collaboration
Autodesk Revit Beta & imminent launch
MUNER demonstration at Dubai World Expo
Varjo & Nvidia & Siemens etc, etc…
We hit a speed bump, but remember the bigger picture here & the end goal which wont happen today or this week, but I think likely sooner than you expect. All the best.
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