Gotta say, there was heaps of warnings on this site. Learn from this, and DON"T buy on the down trends. GLH.
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I bought in 2 days before their annual presentation at 0.33 -- then I discovered the warnings on this site!
The morning of the presentation things looked a little shakey so I jumped taking a .02 hit.
That was a pretty cheap lesson looking back!
Thanks for the warnings.
Here are the big ones (oops, institutions) in PEB:
Smartshares Limited 20.6m shares
Harbour Asset Management Limited and First NZ Capital Securities Limited 72.7m shares
AMP Capital Investors (New Zealand) Limited 25.6m shares
Salt Funds Management Limited 55.7m shares
Devon Funds Management Limited 19m shares (below 5% last disclosure so could be gone by now)
BT Funds Management (NZ) Limited 34.5m shares
K One W One Limited 19.8m shares
247.9m shares = 53% of the company.
Then there's the Masfens etc etc.
WHICH ARE THE LAST ONES BRAVE ENOUGH TO TAKE ON ANY OF THE INSTITUTIONAL: SELLER(S) ??????????
THIS!!!
Why they have chosen this pathway puzzles me. Moreover, why do they feel the need to do the physical testing themselves? Would be feasible to get LabCorp or one of the other US diagnostics providers to do so. Being a 'lab' company (which is similar to operating a factory) and a health diagnostics company are two different beasts.
I wonder if the current board have entertained this... it'd be the biggest lever to cut costs but would smell of desparation and push the sp further south.
Actually if you read up on the backstory of the company and how it came to sell its own product, it was because they tried to sell this to the big companies but wasn't getting the offer they wanted, so they thought to themselves, they have taken it so far, so might as well take it a bit further and sell it too. Little did they know it wouldn't be as straight forward. Probably the fault of a mother trying to convince the world their babies not ugly.
I will give you credit where it is due. If this company goes under you have saved people who listened loads of money.
If this company became successful, which I hope for All stakeholders, you would also praise the company. So far though, you have not been wrong, but I am still hoping.