With only 130mil shares on issue, and plenty held by directors or substantial holders I am very curious to see who is selling (and who is buying). There are some very large parcels going through down here and no change of substantial holder notice. Part of me wonders if these are wash sales and somebody is accumulating. It seems crazy given that the company appears to be toast, but as we all know sometimes there is more going on than meets the eye. At 1.2c the market cap is $1.5mil, and they should have approximately $500k in the bank, giving an EV of only $1mil. With a relatively tight share registry, and 130mil SOI at worst that is a pretty attractive shell. Still on the other hand, things currently appear so bad it could be moments away from an indefinite suspension. I'll wait and see how it pans out for now.
NTI Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
