UNT 7.14% 1.5¢ unith ltd

Wow.....! Underlying EBITDA decreases from $10.9 million to $3.5...

  1. 2,161 Posts.
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    Wow.....!

    Underlying EBITDA decreases from $10.9 million to $3.5 million.

    My goodness, what a disappointing set of full year results.

    My question is how Domenic managed to convince a sophisticated investor to take 5.5 million of his shares of his hands for 0.18, October 2017..?

    That's a fairly serious loss in my mind.

    I had a conversation with Domenic in September of 2017, leading up to the change of reporting to 6 monthly from quarterly.

    He assured myself that the track business had stabilized.

    At that time the share price was 0.22 - 0.24.

    I could have exited with a small profit, as I was thinking.

    Based on that conversation I decided to hold and have since closed the position for a 90k loss.

    Expensive lesson to be learnt.

    Always trust what the chart is telling you.

    Always get out when a director sells (even if for tax purposes)

    If the director tells you one thing and the graph is suggesting something else, trust the chart.

    CM8 were nett debt $1 million 12 months ago.

    Subscription revenue was $40 million 2 years ago, now it's less than $14 million.

    If Domenic was serious about turning his sinking ship around, he would be doing more to stem the losses.
    ie. Taking a wage cut himself along with the rest of his staff as he just announced.

    I see another raising coming, more than likely by way of convertible note.

    Good luck remaining holders.

    Lute
 
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