learn from history, page-14

I'm with siameseparrot on this one. (Sold out a week before the agm). The real issue is not lack of detail or planning (though that determines the size of the negative response). This issue at stake is the age-old "money now or money later?" quandry.

There were two options:

Money now: Take the cheque, and shareholders sit back and know that distribution is being rolled out in the least risky fashion. Sales model is already proven, and expected earnings mean relative certainty in SP.

Money later: No cheque, but promises of more money later if all goes well. TIS assumes more of the financial risk in exchange for potentially more reward, though this will likely only start to be realised 3-4 years from now if all goes well. Shareholders now wait at least another year to know if goals are being kicked and they really are on the path to getting more money.

I'm happy to wait on the side and hope GFC2 gives an opportunity to buy low. Otherwise, it's still too speccy for me at this price for a stock that doesn't make money and is a few years off a revenue stream.