Remember when it was days like this ... all the time but green?...

Remember when it was days like this ... all the time but green?

I've stopped out for the moment.

I've been completely embarrassed by this company. I bought in at around $1.30 for about $60,000.
The reasons I bought in were because there was (at the time):
- a technological moat,
- cash in the bank to see them through to what would be recurring revenue
- a detailed plan of how to achieve revenue and timelines to achieve it
- a viable target market willing to purchase

The total value of my shares went to about $650k at their peak. I didn't sell at all because:
- my CGT value would be around $200k which was within 12 months of purchase
- The expected pullback to roughly $6 which I calculated as a reasonable share price based on recurring revenue of 10,000TPA with a reasonable EPS and PE ratio and waiting >12 months to reduce CGT to 50% would have yielded higher value of shares left over compared to if I had to pay CGT on 100% at $12.

When it dropped below $6 I thought that they were obviously behind on the timeline however the business plan still was (and still is) reasonable so I'll just hold and wait it out.

I followed my investing rules, got in at the right valuation time, held off selling because of financial rules, but then the lack of updated and their timeline pushout led to me ignoring reasonable sell rules.

Now that the share price is nearing $1 it has absolutely decimated by paper profits and I look like a proper goose and should rightly be labelled completely financially irresponsible. I feel so embarrassed and disappointed and filled with shame.

I keep my finger on the pulse for when that announcement gets make of sales agreements because this still has great potential, but the opportunity cost of what has been lost is so great that I have etched a permanent investment scar for a lesson I'll never need to learn again.

Please don't come at me with responses of this is a growth company. It's not. It will be one day but it's pre-growth company. Look up the definition of a growth company and you'll notice that growth companies make significant revenue, they just need assistance scaling. I am not here to fight, just to vent my embarrassment as I'm sure others have too.

I'll be back in the moment that announcement drops, for now though I've switched that capital to safer waters to actually regain some of the unrealised gains.