Sentiment is down the toilet and dropping like a golden dog turd, meaning the basement SP could still be a hell of a lot lower.
The problem with OBJ right now is that is has gained reputation as the "opposite" of the boy who cried wolf. I say "Opposite" because the wolf is the positive outcome we want here. It represents the "company making" announcement that we all want, its the revenue stream the OBJ team deserve, and its that very realistic huge share price that is genuinely achievable, yet never arriving.
The company AND so many of us have been crying wolf for year after year, month after month, announcement after announcement, and yet it still hasn't brought us the actual wolf. I think its fair to say everyone is tired of it.
You can see evidence of that in the market - when great announcements arrive, genuinely good and great ones showing and promising the wolf is on the way, well.... no one cares, the market doesn't react, and as is evident today, the traders just keep driving it down as people leave, tired of it.
For 8 years now Ive watched statement after statement from of us all saying and believing the same thing every year. We all pump out lines like "Its coming, big announcement round the corner!", "Next Year", "Next Quarter, "Everything thing takes time", "2013 is the year", "2014 is the year", "2015 is the year". I've seen and heard "WOLF" from way back from the beginning. I remember the the big 3M spike when everyone was spruiking a commercial product years ago, turned out to be more agreements, and more extensions, misunderstanding of 3M's role, and every year its the same pattern with different rhetoric, always getting closer, but never there.
To be fair, much of it is very, rational, logical and legitimate. The evidence a wolf is coming is there, blind Freddy can see that if you research the stock. The problem is it should be here by now, and to be told only now that its still years and years away after all this time is gutting.. so guess what, "2016" was supposed to be the "Commercial year", but 10 months in and its a rinse and repeat again, 2 products with minimal volume and no revenue to date ..... more announcements of fluffy agreements, extensions, patents, soft launches with small volumes promising more, .. always anything but the wolf... queue Cuba Gooding Junior... "SHOW ME THE MONEY"
So this all leaves us wondering, where the hell is the wolf?, is it ever coming?, can it make it in time? can it actually make it at all? does it even actually exist now? ...... OBJ is like chasing ghosts, (or playing "heroin hero" for those of you that are south park fans)
We have achieved an absolute Mountain of great things with OBJ, but after so long traveling we need to damn well get somewhere. We have to do so before the competition catch's up, and also before investors & supporters get exhausted of hearing "wolf!!" yet again. Be under no illusion, that's much closer to fruition than is the 2 years to milestones, and could genuinely unravel the company if they don't pull the damn lead out.
As I said in my other post, OBJ needs to make or break within the next 8 months, with something extraordinary just to prop it up in the next 2. If not I see The second half of 2017 being an absolute bucket of raw sewerage for its management, a mass exodus of funding, bad stigma with sophs, and the obvious harming of all our future prospects.
Again, I'm happy, glad, even hoping to look like and idiot, be wrong about everything, and get that "WOLF!!" announcement tomorrow. But its hard to be optimistic about OBJ's ability to achieve any gains from here and pull out of this hole, when anyone reading today's announcement are as good as told by management themselves, that OBJ is a borderline futile investment for the long term future .... so where does OBJ management see profitability occurring? 10 more years perhaps? And 100million more performance right shares to them in the meantime?
OBJ management should be very nervous at this AGM. Very nervous.
ALL IMO of course.
End Rant #2
OBJ Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held