Well, here we see ISN slipping back again. No buyers and a series of small sellers lowering the shareprice and sending us back to the .06 mark by the looks. My oppies portfolio looks good at a .03 price, but really the value of them as of today is half that.
I'm a big fan of what these guys are trying to do but I have to say that my patience is wearing thin. Maybe it's just the continual downramping of this stock that has worn me thin, but I can't help wondering what is taking so long to get any product, anything at all, to market.
When the yanks first came aboard I was keen to impress on them my bad experience with the biostocks out of a certain suburb of Melbourne. A lot got rich. I got absolutely smashed. New management (before Thomas came aboard) assured me that transparancy and share price growth would be the mantra. It concerns me that in many ways the same pattern is playing out. Long long lead times, cash burn and no real idea of when and if the product will sell.
The app strategy is genius, and they seem to be establishing a positive reputation, and yet here we are now a long way down the track and there's no indication they have been able to sell this story to anyone in australia, let alone the US. We keep seeing lots of social media and PR ties-ups, even a sign in Times Square for god sake. But no actual product that is going to drive share price growth. Mathieson coming in was a real positive, but where's the US investors (listing there a complete damp squib) and o big buyer ready to say I'm in for a penny, let alone a pound.
I understand the message, the brick by brick approach to building value, but gee there is a yawning gap between what they say and what is happening to the value of my portfolio.
One things for sure, I don't want to be holding my ops at these levels with six months to expiry. They have another six months in my book to get this thing crackling. For the first time in a long time, I'm starting to wonder if they'll be able to do it.
Possibly, I'm just having a bad day and am sick of the bagger and baiters who have ridden this thing and guess I'm wondering when I'll ever see reward for my forsight for investing in this mob for .... hmmmm, years ....
C'mon Michael Thomas, surprise me.
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