Opel, I totally agree with you and respectfully adjust your numbers to add weight to your argument. In your example it would actually require $50k uptake at 10c (not 20k) just to be even on the current 18c price. ie double your investment just to be even.
The problem with an 80% loss, as mentioned in several posts, is it requires a 500% gain just to break even again.
I'm sad to say that I'm in the same boat. I've held for 10 years and my research led me to aquire several million shares. At 13c I could have paid off 2 mortgages and secured my kids education but 20c was my goal and exit strategy. OBJ became my high school lover in that I broke all the rules. I fell in love, I removed my stop loss, I didn't take profit, I averaged down etc etc. That compounded with a 20:1 consolidation and 66% discount (farcical) raise resulting in a further 50% discount on the old closing price means I'm so underwater on this one you can call me Jac Cousteau (showing my age, and passion).
However I did take up my entitlement as it was sooooooo cheap and averaged me down but most importantly alligned my investment with the CEO and BoD who now own the majority of this company and enough voting rights to do as they please. I won't even comment on the steps they took to do this. They are here to make cash, not a difference, and after 8 years of disaster and disappointment I'll happily tag along. Why?, you may ask. Well as I said, I've already broken my/the rules on OBJ. I wrote off my initial investment in early 2019 and when it went into suspension and NS deal in October 2019 I wrote off the whole thing. So, yes there are much better opportunities for what little is left else where in the market, but now I'm psychologically free its just a rather expensive roll of the dice to see what PP can achieve. I hope that he will finally rid us of the company secretary/(add your own description) and stop the brown paper bags from leaving the back office. ie the latest payments for the short lived capital raise.
The new team are here to make money, they are in it for the cash. So as a long term holder I've put on my big boy pants, dried my eyes and I will watch very closely what they achieve and most importantly when they sell. Because when they are out, I'm out! Regardless of whether I've made my cash back or not.
DYOR, just my opinion (every clown has one), red writing etc etc
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