"...the company says is has 15-18 months run way which makes it more like Feb 17 (15 mths) rather than Sept 16."
I note that the company at the time of the release of the FY2015 interim result in February said it had 15 to 18 months of run-way. And yet it raised equity capital twice within the space of 9 months thereafter.
But you are right, my calculations are indicative, rather than prescriptive; for they are based on my not being privy to any plans that management might have to further its rationalise its development programme.
Which segues into your next point, namely:
"They need to update the market on there cashflow plans. IMO."
Exactly.
It is the most pressing issue for the stock.
My feeling - judging from the tone and content of some of the posts of the past 96 hours - is that shareholders are feeling a sense of not being adequately informed and kept abreast of the capital budgeting and financial planning aspects of the business.
As I had mentioned in an earlier post: my sense is that the company had in the past done a better job (not a great job, but a better job) of keeping the market appraised of how it views, and is managing, the capital position of the company.
But, quite evidently, the disclosure side of this has been found wanting in recent periods.
I daresay that at least one positive thing that will emerge from this whole unhappy experience, is that management will hopefully feel more obliged to engage better with shareholders.
And not just doing so by drawing attention to the upside prospects, but also to some of the challenges and he funding realities that the business faces, and details of how management intends to manage those challenges.
Proactive communication with the owners of a business is a minimum requirement of being a publicly listed company nowadays.
Under-Promise and Over-Deliver: the cornerstone of increasing company valuations.
MSB Price at posting:
$1.95 Sentiment: None Disclosure: Not Held
(20min delay)