i think the current weakness reflects the reality that many people have no idea what motopia is going t look like in just a few short weeks. certainly the bubble has burst a bit and that probably reflects rights issue profit taking ahead of shares being issued and also the traders who rode the wave and retired.
imo once the ticker is changed and the company is in a position to shout its revenue figures to date, forcast forward and sign a few more deals its going to start attracting a lot more of the right sort of attention.
noggie i agree entirely that the revenues we know about already justify a share price upwards of .20. the shares on issue is also slightly misleading because escrow and top 20 account for more than 65%. not many of those coming on market in the next 12-18 months ...
i also dont doubt that the personal incident in the US had a negative effect that artificially pushed us into the .08 region ... looks to be working itself out , although i remain surprised that the company did not issue a statement about how it affects US growth strategy -- contacts etc - on the entertainment side of the business. perhaps one for the agm?
so all in all, disappointing to see it fall so far back, but glad to see the enthusiasm of the true believers lives on. one or two sweet deals and its away again. time to accumulate while the stale holders are still taking their meagre holdings off the table.
MVH Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
