If you read my comments you will find I have been mindful to be factual and stay away from any form of down ramping in my comments and sentiment.
However judging by your tone, number of posts so far and how you have been quite defensive over the management's decisions I cant help but to think you may be directly related to this company.
Regardless of whether that is true or not I still stand very firmly by my comments.
Whether there was purpose behind it or not, they chose the right time to list in order to get the best buy-in which was the golden months of tech stocks. Had they listed on any other time, I dont think their SP would have picked up by as much as it did.
The product itself has a market and potential to be bought over by the big guys which is the original reason I bought in. However when you buy an IPO there is a great degree of risk involved, some will sink like ICR and some will swim.
I will use an exaggerated example such as SnowFlake NYSE:SNOW which is on the other end of the spectrum. This tech product has been around for a while with established reputation and profitability. It only recently listed in the US and the SP skyrocketed because the product had been fine tuned and there was an established clientele.
It is very important that to note, I dont expect ICR to perform like the SNOW however it shows the fundamentals of success in technology, which is a fine tuned and in demand product ready to hit the market AND an established clientele or a very strong marketing and sales strategy already in place ready to go, and there are many other examples that are far less known but share similar concept.
You may not understand tech products very well but they are amongst the highest cash burning. If they are listed before they have fine tuned it and/or have establish clientele or at least reasonable marketing strategy to push it forward in the first few months of listing the SP will go down very fast because they are effectively piggy backing on investor money to keep their doors open.
They should have had a strong marketing strategy ready and potentially few small contracts signed up and the listing money should have been used immediately to push the sales and marketing. What has taken place between when they listed and now should have taken place before they listed.
The government, be it state or federal are very political and very slow. If thats the only market they were relying on they shouldn't have yet listed because it could take many months, some times years before you gain traction.
The other big red flag for me was the unusual pick up in the SP few months ago before the NDIS contract was announced which for a relatively unknown stock such as this, points directly to insider trading. I mentioned I sent them a stern warning which did what it needed to do.
In any case, if your only interest in this stock is being an investor, when the quarterly reports come out in following quarters you will see who is right.
The only way I see the SP going up from this point is either a big contract which could potentially give rise to CR and dampen the stock going up or reporting profits which is unlikely to happen.
ICR Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
