Definitely one of the most confounding shares on the ASX. I too bought into this back in the 'Tech Wreck' days of the early 2000's and have held it in the bottom drawer in the hope of better things to come (and accumulated significantly along the way).
For as long as I can remember, it has been a penny dreadful stock that always promised, but never quite got there. I don't know if it is just an over-saturated cyber security market, but Senetas has always seemed to have had that world leading technology, but few sales to back up the hype. 'You can lead a horse to water' as they say. So is it the management team failing to market their product, or is the product just not desired?
Some of their forays into broadening their business have been speculative and quickly ended up as write-offs on the balance sheet. Votiro is hailed as the saviour, and I sure as hell hope so, as I may die of old age before I receive any return on this stock.
I wish us all good luck, but I am not holding my breath for some miracle event, particularly when it wasn't that long ago that the board announced that it would initiate using an outside resource to give it guidance for future direction and opportunity (WTF?). Have we heard what that would entail?
Thales (the true professionals hopefully), might finally be the ones to crank this old engine over. And yes I will be participating in this years SEN AGM, if the annual results are not on the improve, because if they can't make it work soon, they never will. I suggest we all start demanding more from this company. Hope they prove me wrong.
SEN Price at posting:
6.7¢ Sentiment: None Disclosure: Held
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