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Thread: 9 Spokes

  1. #41
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    Quote Originally Posted by JBmurc View Post
    Yeah very interest pumped from 2c to 3.8c high on want ? I see their goal was to lose 880k this Qtr ... seem huge hype on breaking a profit for a Qtr etc
    Today should be interesting if there was/is a P&D !

  2. #42
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    Quote Originally Posted by whatsup View Post
    Today should be interesting if there was/is a P&D !
    Of course it's a pump and dump! Go back and look at the history of the stock. It always moves up before a material announcement.

    One of the worst leakers on the ASX.

  3. #43
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    Yes the chart tells the story... this will be the seventh PUMP in the last couple of years all previous 6 spikes were meant by dumping to new lows
    People don't have ideas, ideas have people

  4. #44
    FEAR n GREED JBmurc's Avatar
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    Default LOL talk about ramping mgmt!!!

    “We have the potential to be a billion-dollar company – we just need to get more businesses using the platform and realising the benefits. Our partnership with Microsoft has been a significant step towards this and we’re excited about the future.”

    https://bizedge.co.nz/story/9-spokes...ft-partnership
    People don't have ideas, ideas have people

  5. #45
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    Quote Originally Posted by JBmurc View Post
    “We have the potential to be a billion-dollar company – we just need to get more businesses using the platform and realising the benefits. Our partnership with Microsoft has been a significant step towards this and we’re excited about the future.”

    https://bizedge.co.nz/story/9-spokes...ft-partnership
    That's the problem with this stock. It has that 'pie in the sky' aspect that traps non-experienced investors into thinking it's the next Xero.

    It's been 10 years since the product was first released with absolutely no traction since then. Millions spent, millions lost.

  6. #46
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    Goodnight sweet prince...

    https://www.asx.com.au/asxpdf/202006...t9tf561yrb.pdf

    Insolvency imminent.

    Looks like they've taking the wage subsidy and done a runner.

  7. #47
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    Quote Originally Posted by Ogg View Post
    Goodnight sweet prince...

    https://www.asx.com.au/asxpdf/202006...t9tf561yrb.pdf

    Insolvency imminent.

    Looks like they've taking the wage subsidy and done a runner.
    Didn't they do a placement @ .016 six months ago to a Aussie fundie ?

  8. #48
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    Quote Originally Posted by whatsup View Post
    Didn't they do a placement @ .016 six months ago to a Aussie fundie ?
    According to the auditors report, they had 5 months of funds available at balance date. Given that 3 months has past since then, there is now only 60 days of funds available.

    The company must secure new sources of revenue or raise new funds within 60 days. However, their ability to secure new revenue has been impacted by Covid-19. This has then impacted their ability to raise funds. It's a catch 22!

    What's worse, is that given the company's growing uncertainty as a going concern, it's likely existing banking partners/customers will terminate their agreements (like others have before), thus further exacerbating the problem.

    It's likely the stock won't trade again and will go into receivership. The assets will likely be sold off for a fraction of the market cap.

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