I never suggested or implied he was a clown - you have! I have always said that this Company should eventually come good in a few years perhaps 2025-27. The key question for holders is the opportunity cost/return.
Fact remains that after the 10.5c capital raise, the share price did drop to sub 7c, ie more than 30% lower.
Can't control the impatient sellers??............no, but they can influence them. They seem to have crawled back into their cocoon. They should be out there articulating progress on their business strategy, telling us how they are executing their business plan milestones, telling how the $3M raised in the last capital raise for launch of Kojensi in the US is going(along with the $1M raised in the capital raise fore that for the same purpose). Giving us an update on a new forecast date to become cash flow positive - it won't happen in 2023 as they had previously forecast. If they did this, you may find that those impatient sellers would have greater faith and hang on to their holdings. If there is no big positive announcement in next couple of weeks the quarterly is going to hurt. If there is not a very big revenue bubble by end of year it's unlikely we will be cash flow positive in 2024.
So getting back to
voncrumb's original question of
why aren't Directors/Management buying at this cheap price?? The only logical conclusion is that they know they will likely get them cheaper on the next quarterly and if there is no significant revenue cheaper still at end of September quarterly and then again on the capital raise. I suspect some of these sellers are selling to buy back cheaper, others to reinvest in alternate sectors for greater return eg rare earths and critical metals after the recent report out of the US(
2023 Critical Materials Assessment (energy.gov) - that's just one example.
Yes, a no brainer(subject to management performing), right sector looking a long way forward, it will have its time however now is not the right time because they can be bought at a much lower price.
