All true.
Not only has DRO only made one sale, but they didn't even complete that one sale. The buyer saw the equipment, tested it, used it, and didn't even want the rest of it within a 15 month horizon!
Plus, Bergen, the fund that listed DRO and propped it up, has quietly sold most of their shares.
Dro has a history of releases that are anything but sales (pictures - they are still touting the Macron picture that resulted in no sales, general industry happenings - also resulting in no sales) to get share price higher, then getting out. At the end of the day, Bergen put what appears to be a hype team into place that has lost over $20m (and would be worse if they weren't getting free money from our government) and without completing single large sale. Bergen has profits of around $15m MtM.
This will most likely end badly, but who (else) will be able to cash out before it does? Will Regal keep on selling?
The absolute worst look right now would be to see the executives selling the 30c shares that they just "bought".
Drone Media, page-183
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Last
$1.64 |
Change
-0.380(18.8%) |
Mkt cap ! $1.242B | |||
| Open | High | Low | Value | Volume |
| $2.03 | $2.11 | $1.55 | $99.83M | 57.40M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2136 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.64 | 23278 | 9 |
View Market Depth
| Last trade - 14.06pm 17/07/2024 (20 minute delay) ? |
| DRO (ASX) Chart |