I don't think the convertible note and Ormerod selling is the reason for the drop in SP.
Everyone here is extremely positive and I'm a supporter of the story, I like management, have held up until recently and will re-enter at the right price, etc. but at least consider the bear thesis. That once you take in to account the fully diluted share count the market cap is ~$20-$22m, a capital raise needs to occur and fund managers are unlikely to pay more than 15c, and the core business is a low quality consulting business that when you strip out R&D concessions is probably on a run rate of normalised NPAT around $700k-$1m, so PE of 20+.
I'm a believer in ES2.0 but I think its wise to consider the above before expecting this one to rocket past 20c. Hopefully I'm wrong (or I manage to get my shares back at the right price before it takes off again!)
EVS Price at posting:
11.5¢ Sentiment: Hold Disclosure: Not Held
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