So you bought in because you like drones, fair enough I guess but not the best due diligence I've seen when buying a stock. If you had done some due diligence you would know why the negativity, as there hasn't been any real positives.
Before buying stock, and this goes for any stock, it may have been wise to get a good history lesson on the company since listing. History often determines future.
There are about 1500 drone sellers and resellers in the world, one of which is not yet IOT as they haven't produced or sold any, although that isn't quite correct, they pre-sold a few through their website, and I would dare say most moneys have now been refunded as the product never becomes reality.
They IOT haven't been on the ASX long at all, were at stages into OTT, drones, watches, even looked at hoverboards and now are back to just the selfie drones and a reseller of AEE drones.
The drone (Selfie) called Roam-e was meant to be ready last Christmas 2015 and now won't be ready for Christmas 2016, noone here has seen a live demo showing full functionality, they had named indicative orders at 440,000 months back based on some kind of headcount response from retailers and distributors, they have spent $2m+ on marketing and produced two videos only from this spend, cash burn is high for no current result.
Kantor was the CEO and part inventor of the Roam-e through another company, he is now gone (see previous anns)
IOT distributors are meeting with retailers Dec 5, and over the 60 days will firm up preorders (book build).
Apart from that all is rosy.
Expand
