A lot of talk about potential and growth. This stock should have jumped on announcement of the KPMG consortium and the $7M Defence contract. Why is it sitting at 13c??
I think it's because the market does not have confidence in the management to sustain growth. Two contracts is nice and may give a momentary lift(blip) when the quarterly is released however given such substantial investment in a marketing team and an $8M capital raise 12 months ago there has been very little diversification in the market and while we have had the KPMG and Defence contract announced in April and June respectively, we have heard zilch on progress since. We don't even know if they have a proposed sub-contract from KPMG.
There has been poor accountability for the last capital raise(12 months ago)
I was optimistic about 6 months ago that they had finally got their act together and that the marketing team was kicking goals. I don't know if there is nothing to communicate or whether management is just bad at it. We are now staring down the barrel of another capital raise - I would really like some accountability for how the last one was spent against what they said they would spend it on.
Sadly I expect this to go down further and as much as I hate to say it 10c could be a reality on announcement of the next CR.
