Wangle News, page-32

I have bought and held since last year, and bought more after the relisting as well. Those buys were based entirely on the company announcements and presentations, the timelines they advised, and the disclosed path to monetisation. When a spec stock is close to earnings, which the company on its announcements were rapidly moving towards, is when I like to get in as the market valuations are generally realistic by that stage.

My sentiment changed to SELL when the company missed its milestone to release in March without an update, combined with the absolute lack of any depth in online presence, marketing and media coverage of the product, which you may recall, is the ONLY product we have. At the moment we are a "coming soon" webpage that hasn't been updated for months valued at $18 million.

Despite its infancy, this company has consistently missed its own targets in a very short time space - the revised App release target numbers, the projected relisting dates, the advised App release dates. The problem this creates is each company release thereafter loses credibility, not a good look when you are apparently on the cusp of going to market. It also infers all the projections and milestones currently disclosed are more than likely going to need revision as a consequence.

I continue to HOLD until such time the company updates the market and we see some presence and marketing pre-release, but I believe for the reasons above that the SP is likely to fall further, hence my sentiment remains a SELL. I am grateful that this appears to be next week based on emails to some holders.

I look forward to the announcement, ideally, there will be a commercial in confidence reason for the above under the terms of a deal. Anything else would be disappointing and at best be another sugar hit that quickly fades away.

I have plenty of skin in this game, so when I say GLTAH, I mean it.