You could apply that case to all stocks. The fact is they won contracts all over the world against far greater companies in scope an power.
Broader technology moved on past them, making the first mover status irrelevant
That is not true. Erg's tech remains at the forefront of smartcard technology.You are not comparing apples with apples.
They burnt through cash without any regard (directly from a guy I work with who was a PM on the San Fran side of things) at a rate of knots
Now that is true. roughly aud1.5million per week for 10 years.
The systems were overengineered and too complex That is nonsense. The reasons behind the sloth like movement of smartcards effect the majors Visa, mastecard etc. It is not company specific It is basically about the industry as a whole. The bottom line is the pigs at the top simply refused to explain the truth.
SCOPE CREEP!!! It is true this play is far less complex but we have to trust someone don't we?
cheers,
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
