I have had some discussions with management over the past few months. I don't believe they are looking to take advantage of the market or shareholders. If you want to buy shares management they need to be announced on market and not many have been purchased lately. I think nick bought a few the founder but we are talking less than 20K. But they choose to go to Instos and bell potter for the past round. Which frankly is ok it is not like the shares really opened that much more. We have been at 8.5 to 10 cents for a good part of the last Q. Many chances to buy with no restrictions on the $$.
If anything they all purchased at much higher prices over the past 2 years not at 7 cents. The top 20 hold over 80 percent of the shares on issue. Due to all the above the company has enough incentive to peform and get things all heading in the right direction.
In terms of capital raising opportunities in the future shareholders at some point will get that opportunity. What price that will be who knows but you would imagine it be sub 30 cents. It all depends if they get a strategic investor in or they decide to go to the market to raise the next amount. You would imagine this would occur this half.
It is too early to really judge the new management team as of yet. I think in 12 months time we will be able to see how they go against the companies goals to increase sales.
Regards,
ID8 Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
