I am a very frustrated with this company....i was made redundant in February and went about investing my proceeds over the next 6 months in a dozen or so companies. I am no warren buffet, but do OK. About half the companies I invested in are positive. Of those in the red, they are all less then 10% underwater. And then there is LRS which today at the lofty heights 4.3 cents is 28% below. That doesnt take into account that I already once sold half my shares as it slid down the poll, and repurchased again at 5 cents. I am probably really down closer to 40%
I said here, (and to myself) after the last quarterly update came out on the very last day allowed, and said sweet FA, that that surely is a sign things are not right. the market agreed and and we soon found the share price sliding from north of of 5c to below 4 cents. If nothing has happened in this quarter, then surely the quarterly report could be out by now ? it feels like mgmt are just buying time, hoping some good news might come out before they have to say anything, ( or as per last quarterly...nothing!) Mgmt has nothing to report, nothing is really progressing, seems we are the only company totally affected by covid delays, and come next friday we'll have another quarterly report saying nothing except we have burned through some more cash...funding mgmts lifestyles as you suggest....and a step closer to another CR / diluted shareholding as such a ridiculous low price.
I would like to think this company has some good assets, but its hard to keep understanding why nothing is happening. Unless there is some news before the quarterly I think this share price is heading back into the 3 cents or lower first week of November - so I think I'll be selling next week in the absence of something positive to renew my faith.....
LRS Price at posting:
4.3¢ Sentiment: Sell Disclosure: Held
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