I dont think SMA was going to have an ownership but provide their systems technology and infrastructure for a secure operating environment.
In any event the lotteries was a major business opportunity for SMA and the directors have been remiss IMO in keeping the market and shareholders informed of the progress.
IMO a lot of people invested in this company for the lotteries and previous mobile payments business NOT THE CURRENT white elephant that will suck the bank dry for a long time to come.
One must think how many Australian products are out there to sell online????? How many Ugg Boots do they need to sell to break even?
How many bottles of wine do they need to break even??
Judging on the past announcements AND NO indication of sales revenues for the new E-Commerce platform the directors are not prepared to let shareholders know what is really going on.
They keep referring to "Meeting our expectations" but that does not cut it for me.
Put out the real figures stop hiding!!!
SMA Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
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