According to the announcement GMVD is to purchase up to USD$1M worth of the Company's ordinary shares either on market or by negotiation. Could this be in anticipation that long suffering shareholders will unload at the current bargain basement price? Interestingly GMVD has cash on hand of $3m plus receivables of $6M, so should have plenty of liquidity at present. How much of this is from latest capital raise is unknown.
For me this is a hold now and hopefully someone with better business delivery skills than current management will see an opportunity to purchase the technology for incorporation in their more user friendly products. I have to say my latest Fitbit Sense has much improved vitals monitoring than the two year old Ionic it replaced. The technology is moving forward very quickly in this sector.
GMV Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
