I bought my first parcel of CI1 share in early March 2021 at 4.2c and kept topping up to average down multiple times in the past 13 months. Similar to you, i was a strong supporter of CI1 and kept telling myself be patient with the penny stock, as i believed the CI1 time would come soon and also believe the mortgage market would crash soon which would bring lots of clients to CI1 for debt restructuring. However, as of now, i am totally loss of faith in JW and the management team, and extremely disappointed with the huge pay rise to JW instead of using those profit to do the share buyback, when the share price has been heading north for more than a year. If I recall correctly, the last time JW purchased CI1 share was in Sep 2021 (about 7 months ago) and he bought 6mil shares at 1.44c. If he believes CI1 has good potential and undervalued, why he didn't use the company profit to buyback those cheap shares (currently trading at 0.8c, appx. 50% discount compared to what he paid 7 months ago) or use his super high salary buying more shares to boost up shareholders' confidence? I still see the potential in CI1 share due to the foreseeable rapid rates rise, but personally i won't top up nor selling any of the CI1 share until i see a clearer picture, and currently paper loss sitting at more than 70% of the total investment. *Just my opinion, DYOR and not financial advice.
CI1 Price at posting:
0.8¢ Sentiment: None Disclosure: Held
(20min delay)