who got caught at the top, page-11

The market in general is copping a hammering, in addition to the hammering small caps have copped over the course of this year. One gets the feeling we haven't quite reached the bottom of the market correction, and there is starting to be some genuine panic in the air. Overall not a great climate to give a stock like this a pump, or make an acquisition.

These types of plays are all about timing - this ran to 16.5c because it made the right acquisition at the right time. If the same type of acquisition was made right now the market would likely shrug its shoulders. Due to this, I wouldn't expect to see much happen while blockchain sentiment is on the nose and the market is risk-off. In order to maximise shareholder value, a better strategy is to conserve capital and wait until the macro environment will respond favourably to whatever their long term plan is.

They have certainly set this up to move though when the timing is right - the facility to Actuity, strong T20 and performance shares to Emma are all hints.

I'm most curious to see what they will do in respect to the 3c options which expire in January - the directors and interested parties hold plenty. Do they risk trying to pump it up above 3c prior to January in this climate or let the oppies lapse. Decisions decisions.