The larger institutional investors won't usually dig that deep at first. They will do a scan of the market with a computer program that will filter for stocks based on a specific criteria. To the scanners, BOT will still be seen as largely pre revenue (and valued quite high on the basis of that) and so it will likely be filtered out. The scanners only really look at the audited numbers.
The filters won't be looking deeper to see that there is actually clear proof of strong uptake in Japan. Of course we aren't receiving much of that, but it is easy to use that to predict US sales (which thanks to the acquisition a few months back, we are now getting 100% of). Once the US sales are actually recorded in audited results, this will appear on the scanners as an incredibly cheap stock relative to the fundamentals, and we should then see a wave of institutional buying.
That is part of what makes small cap investing so lucrative. Very little research done at this end by the larger investors, and so they usually remain under the radar until they finally achieve announce audited results and appear on the scanners. It allows for smaller individual investors to have an advantage over the bigger end of town, as we can continue to buy at significantly discounted and derisked prices until the larger investors finally notice it.
BOT Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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