It is certainly something that rings true.
I have invested in a number of these companies, and things that the ASX does not consider material enough to warrant an announcement, are the very things that give investors comfort that a pre-income company is on the right track.
Ironic that right now, when micro caps are doing it so very tough, that the company cannot tell us the things we need to know about our investment. That HMD could not put out an announcement on its partnership with e-Lovu is troubling. That's material every day of the week.
I suspect that what we heard this morning is the same story that Dunno and others have heard in the past.
That the company is optimistic and has many irons in the fire, but that more time (and likely resources) are required.
For what's it's worth, I believe the story.
I was impressed by all three of them and think they are all capable of doing what needs to be done.
I am not entirely satisfied by the answers to my questions, but perhaps I was stretching what they might reasonably answer. More discomfort maybe required for a bit longer. Lets see.
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