1. Just because the share price went up for a few days, doesn't make it a good idea to buy.
2. They do not have EBIT figures because the business has to comply with the new accounting requirements. There is a 59million impairment already announced. It has been disclosed that they have never been profitable under the new accounting standards.
3. They are almost out of money
4. They have been caught out overstating the investment valuations to drive up their paper performance profits to systematically raise more capital and manipulate the market cap higher
5. The threat of a class action is VERY real, however the reason nobody is talking about it yet, is that they would not be able to get the class action funding yet to go after blue sky. Because that requires a business around with value to sue and even the lawyers are sitting on the sidelines waiting to see if they wind up or not.
6. If this was such a good buy, then the founder would be buying in.
BLA Price at posting:
$1.78 Sentiment: Sell Disclosure: Not Held
