Thanks wombat...but is a disaster really an appropriate term?
The Nasdaq listing was not withdrawn, they got their capital.
It is disappointing for shareholders, I agree. BUT. This is a stock which is not fully mature. So nobody should have a large exposure to it if they are relying on it for capital appreciation and income streams. It's obvious this is a maturing company but it is not fully mature.
I have made many post to day, so you just need to read back to see my views. But it has occurred to me there is a local US favourite that had some preferential treatment, and the brokers and banks took advantage. We still need to be listed on the Nasdaq because of the access to capital when this ramps up. When deals are announced and revenue starts streaming in, we will get noticed by the right investors. The listing just didn't get the right retail ones and the bankers got us by the short and curlies.
Keep your head when others are losing theirs. Great principle IMO.
PS Macbank = Macquarie bank friend of the retail investor (not!) and subject to ASIC disciplinary action for advisers being out of line. Plenty of fans in here but I'm definitely not a fan.
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