I hope the holders out there who are firm believers of this story can see the risk also. Firstly, it sounds that Richard has convinced many of you of how great GCN really is. Please note that this is his job! Every CEO will say how great their company is. Don't get sucked in by his sweet words.
Secondly, good news travels fast. If GCN knows that P1 is valued at 30c and has received their report, they would have released it ASAP. They haven't got it because it's taking longer than expected. Why longer? You tell me. I can only think of negative reasons. Related to this point, suppose that by Friday, no announcement has been released. Where do you see the SP? No announcement by next Friday? Market will be bored and sell due to impatience as well as growing scepticism of whether P1's valuation is realistic. In a month? Hello 1-2c stock.
Finally, list all tech companies with a market capitalisation of ~ 300 million or more. Now, what P/E are they trading at? For example, consider BigAir (BGL), they're only capped at around 40 million but making solid profits each year. I don't hold BGL. GCN is still at ~50 million with no proven revenue streams. Smells of capital raisings in the future. Also, if GCN was really worth 300 million, why is it trading at 5c? I'm sure some bigger tech company would have noticed a 50 million company and taken them over by now if they REALLY are worth 300 million.
GCN Price at posting:
5.1¢ Sentiment: Sell Disclosure: Not Held
