I bought a parcel of shares back in the middle of June 2009 for $0.19c (300,000) and was happy to exit recently for $0.11c........Now to some this would seem illogical, but for me it provided a tax concession and allowed me to be rid of the annoying burden that came with the shares.
When I originally was lured to invest, it was after the necessary due diligence that I proceeded. This included information from CTO that this would be the last opportunity to buy in at these prices as the company would be cash positive soon and there would be no need for any further capital raisings (further dilution). Unfortunately this was not the case with CTO and there comes a point when you just prefer to be out rather than in.
In relation to there being some sort of problem with the SPP mailout - I have now received a second invitation to subscribe in the mail today, so I'm not sure what people are referring to here.
For me it was simply a choice weighed up with poor results, annoying management, de-listing from Nasdaq Dubai etc etc etc.
This is neither ramping nor down-ramping - just life. Who knows, maybe in another year or 2 they may have their act together and prove everyone wrong - somtimes patience is a virtue in the end........
CTO Price at posting:
9.1¢ Sentiment: None Disclosure: Not Held
