I think @Burnett is still around in this. I don't know him...

I think @Burnett is still around in this. I don't know him personally, but he is probably the longest supporter of SCU on HC as far as I could remember. I've seen him many a time mentioning about SCU in the DT thread.

I too took that piece of info with a grain of salt as this is an anonymous forum (no offence @Burnett, and thanks for sharing btw), but the language used in the last investor presentation, in the CR notice, the need to raise cash when there was still 2.2mil in the kitty made me think that there is some truth to that.

As much as I don't like the drag on the price, I took a position a few days/weeks ago. Anyone noticed the bot that was in overdrive during the close auction today to ensure that price is closed at 1.7c...this isn't the first time; I'm sure anyone watching this closely is well aware. I suspect tomorrow, the two large orders sitting at 1.7c would be pulled making 1.7c looking weak and thereby a sell into it...not that I wish that happens, but such is life in the spec land.

On the positive side, I like the historical support at 1.6c - 1.8c range, which is near the 200MA too, so the downside risk is low compared to the upside potential when there is any positive news. 6mil cash (i.e. 12mil EV), revenue figures stronger than ever were enough to convince me. To add to that broker data since 22 Apr, when we first touched 1.9c looks decent to me.



200mil shares traded so far, so I suspect at least 75% of the the CR shares washed out, so less overhead resistance from the CR. While Morrison and Pershing were the largest insto sellers, Wilsons bought 18.5mil shares at 1.9c and haven't sold any yet; Commsec i.e. retail were the largest net buyers above Wilsons.

Also, the 6mil wipe last Friday at 1.8c was Credit Suisse, and they sold 1 mil at 1.85c (the centre point orders that day). So I'm perplexed on whether they attempted to create momentum, but when it failed started selling at centre point...or have they retained the rest for future i.e. a spike is coming soon? Not quite sure of their intentions, but they can create momentum in the spec land...as much as I don't like this type of price action, we've seen that they were behind most of the momentum plays in ASX specs recently.



Whatever the case is, nice risk vs reward here for me, and hoping that the nicely basing chart would turn up soon.We know how fast this can move on volume, so best to already have a seat at the table when that happens. All in my opinion, please DYOR!