It amazes me their are/were people that have 'touched'/punted on LIT shares. A company that survives on " Smoke and Mirrors " , and it has been their business plan for the last 5 or 6 years IMO. The ASX " Forward looking Statements " in the promotion of its wares allows companies like LIT to exist , and thats why DYOR is bandied about shareholder forums, its a must RULE.
'Smoke and Mirrors' ? this thread is an example. Being brief...... LIT acquired VSPC ( an ASX company ) after they ' folded ' when they could not sell or interest anyone in their patent to manufacture ' lithium ferro phosphate ' LIT CEO Alan Griffin saw value in the patent as a 'spoke in the wheel ' for " an ethical and sustainable supply of energy metals to the battery industry via the creation of a circular battery economy " ASX:ANN 19/4/21. Since then LIT have been spinning out the 'tale' (this a continuation of it)
departure ? I think Brokers/financiers hold a lot of LIT paper and are holding the share price at current levels. They will be looking for a 'good tale ' to pump the SP and get out.
It will be a ' tale ' as LIT 's current assets/future prospects does not justify the market cap let alone the number of shares on issue.
LIT Price at posting:
3.7¢ Sentiment: Sell Disclosure: Not Held
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