Hey Everyone
I sold my shares at 2.6 cents. Too much downside risk at the moment. The net burn rate is too high.
Net Burn Rate = $1.35 million/quarter
Cash in Hand = $4.8 million
Therefore soon they will be doing another capital raising and dilute the shares further. And don't think Readrite revenues are going to support them in the short term, with marketing costs and high in-house manufacturing costs I would be suprised if Readrite is breakeven.
The volumes today clearly show that a substantial holder wants out. My recommendation would be for short term sell, and wait till the end of the year when TB progress is more clear.
I expect the share price to fall further before we see a recovery. Expect the share price to rise late 2009 or early 2010 in preparation for the TB product development. As always, DYOR
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- check out the volumes - someone is dumping!
check out the volumes - someone is dumping!
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Last
13.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.626M |
Open | High | Low | Value | Volume |
13.5¢ | 13.5¢ | 13.5¢ | $5.4K | 40K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 223000 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 223000 | 0.110 |
1 | 2659 | 0.100 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 10000 | 1 |
0.175 | 100000 | 1 |
0.000 | 0 | 0 |
0.000 | 0 | 0 |
0.000 | 0 | 0 |
Last trade - 12.40pm 24/07/2024 (20 minute delay) ? |
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Mark Waller, MD
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