Although we were supposed to make maiden profit this year due to timing issues ( Thailand floods?) some revenue will be delayed until next F/Y. No problems there as far as I'm concerned.
Yes, the financing by La Jolla is no doubt weighing on the share price. Sooner or later this will be overcome although the sooner the better as the dilution is not good. Also the sooner it happens I guess the better the Thai project is coming along.
My big question is why the capital raising at the end of March? Approximately $1.2 million was raised. What for? Was it for the Thai project? If not then what for? Is there something else in the wings that's brewing?
The next few months should bring a clearer picture.
MIK Price at posting:
1.4¢ Sentiment: LT Buy Disclosure: Held
