In all liklihood Allegiance have been speculating on margin in the market for some time, and margin was a dangerous thing to be involved in for the last 8 months as one didn't have to be a Rhodes Scholar to know where equity markets were headed, and they've paid the price just the same as many others have by specualting on borrowed money.
This in no way reflects on the solidarity of ICP,as nothing has changed with the company and they're still on track to evolve into a solid, vigorous, profitable company, and I still firmly believe that's what will happen.
Over time we saw the identical thing which has been happening occur to other companies which I heavily invested into at the time, the same as I have now with ICP. We saw all the speculation, hype and the knockers were rife at the time when OXR were at 20c and evolving. The same with AOE when they were at 20c and evolving. The same with AVO at 14c and others when they were evolving, and look where they all are now.
It's just a matter of doing the homework on a company,then realising and coming to terms with the steps and the time it can take which they have to go through, before going from a speccy to a producer, and no one can ever hurry these steps, it takes as long as it takes, but it's the end result I'm always conerned about, not short term profits, and it's the same with ICP. I have every reason to believe this one will be a winner, same as those afore mentioned, it just needs time and patience. The share price of any company always falls when nothing much is happening which the public can visibly see, especially a company which is still classed as in the spec stage, as this one has to be classed, but it will change, and soon, but no amount of hype or ramp will quicken the process.
If we remember the reasons why we first bought into the company, and nothing has changed to bring about a change of thinking for the worse, then I'm very, very comfortable to sit patiently and await positive announcements, which I'm firmly convinced will be forth coming in the near future. Nobody but those on the inner circle can say exactly when of course, and neither should they. Naturally I'm no different to anyone else, I'm never right all the time, but I've had a substantial growing dollar investment in this one for quite a considerable time, and really comfortable to sit on it, despite the volatility ahead for equity markets and the world economic outlook in general. They're in the right product, one which is used by most people very frequently, in good or bad times, and that's a big plus.
As the company has said this week, their business structure is fundamentally sound, their core investor base is stable and their future prospects are positive, and I wholeheartedly agree with their statements. We just need that next step to be taken and the announcements made and we're up and away. Just stay positive and patient, and I believe the rewards will look after themselves.
Regards.....Chas.
STL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
