stevenjd,
I'm based on both and mixture with lots of other facts and my personal experience and understanding.
The reason I called NOR top at 13.5c because I couldn't see it will be able to beat reduced pricing from traditional telecom; ZIP at $1.2 because of its slowing downloads, IOT & TV2, there are few obvious fundamental issues in my views.
1PG definitely has issues, underdelivery, didn't meet initial 125.
Acquired Marianas Labs last December 2015, to integrate with new data IP and develop Version 3.0, it took about five months, caused soft signing off new clients, 3-6 months time lagging for cash revenue, did not help either.
Managed funds bought at top $4.5 and $5.2, continued to buy at $1.07 until 20 April 2016; then one fund dumped on market; another one transferred to other brokers/instos.
Two many institutions have been involved in such Tech speculative stock.
An institution stock usually has a extremely wild ride. Currently, there would be still about 60m shares (53%) held by brokers/institutions based on my estimates.
Current market cap $58m, cash as at 30 April 2016: A$41m.
I can point a dozen of ASX speculative stocks with much higher valuation than 1PG.
1PG, open shorts have been reduced to a very low level, the lowest level in about 7 months. Institutions dump with big shorts, then dump completed and shorts reduced from 5m to 1m last Tuesday.
The good parts, 1PG has big cash $41m, and reducing cash spendings to below US$1m as announced 31 May 2016, did mention to achieve break-even. Let's say, NO revenue, current cash reserve can last at least for another Two years; With a soft continous signing off new clients of just $1m per quarter, 1PG would achieve break even in about 2.5 years with the lowest cash level of about $26m (Thanks asb83).
At current level, it's a low risk bet with high return, imo.
Always do your own research and good luck to ALL
