Nice work @Sigma. This is a textbook play of share transfer from...

Nice work @Sigma.

• This is a textbook play of share transfer from retail to insto
• That doesn't surprise me because most of the retail investors here jumped onboard around the time of the FY20 results announcement (at prices around 3 cents) and then were spooked by the Lucerne exit, erroneously thinking that Aaryn was the driver behind that selling
• Moreover, comms from the company across the second half of CY20 were relatively quiet and fear, uncertainty and doubt crept into the mindset of many small retail investors -- the perfect recipe for smart buying...
• This stock has also had reputational issues historically; this is exactly the sort of stock I like - extremely deflated sentiment and valuation due to factors which have been addressed and are not material for the company going forward. Deep value indeed.
• Anyone who has spoken with both management and Lucerne will know that this company is in the best shape it has ever been historically. CF+. Cash in the bank. No debt. Team with good morale. Strengthening board. 4x PE. The team is in good spirits and are excited for the next 12-24 months.
• The GM contract is highly likely to be renewed. Sure, there is a risk that it won't, but I consider it to be extremely slim for a variety of factors, including the fact that current add-on consulting pieces of work with GM have timeframes longer than the overall GM contract end date...
• There are some very interesting insights stemming from the charts below. Those with a keen eye will spot them pretty fast. I'll give a few quick clues, i) look at how the threshold for entry into the Top 10 has changed. ii) Look at the overall proportion held by the Top 20 (orange line) and compare how that has changed. iii) Look at the number of shares held by the new #1 investor.

@mp112 - that's a good assessment and I agree. But, it is a "gamble" only for those who have done zero research (it sounds like you are not in that camp and are well-researched). Sure there is a small risk of non-renewal but it is not a 50/50 coin toss...

@Adm1 - also looking forward to the US sales appointment.

Sentiment will swing once more soon from fear to greed when people catch on what is about to unfold here...

I don't think the share price will remain below 2c for long.

Cheers,