RE: Off with another 8%9 Oct 2018 13:08
It's just a complete car crash of a share. You have a BOD that are happy to pocket six figure remuneration packages whilst simultaneously destroying share holder value, and don't contribute a penny of their own towards taking a vested interest in the shares by buying on the open market.
The combined holding of the BOD and non purchase by new members to the board shows the level of contempt they hold for shareholders and the company, and what they really see happening long term here. As long as the salary keeps flowing, with the upside lottery of some free options should anything decent come off, then its win win for them. And just us loyal shareholders who take the risk, and losses.
You have market makers (understandably, doing their job) running it lower to try and entice buyers as there is just no volume i.e trying to make a market. They can barely run it up because there are only really sellers of note, so why run it up and have to pay sellers more - so down she goes. And then no new buyers seem to materialize because the company doesn't release news, or apparently sell any of its product. So you just have a perpetual drip of the share price lower and lower, and seemingly new all time lows every week.
The (non) actions of the BOD in buying shares is making me begin to wonder whether or not the feedback they've received from the Chinese disaster (I'm thinking along the lines of price point and affordability to make this a viable business model - at the end of the day they got in with a Chinese big hitter, and still couldn't sell a jot) has been such that venturing into new markets merely serves to keep the very healthy remuneration going. Whats the alternative, give up, admit failure, and all be out of well paid jobs? Doubt it. My personal saving grace is that most of my holding has moved into spread bet, on a £ per penny basis. I now see the positive in that I only can lose a maximum of 3 lots more (about 14/15 lost to date).