Well, this is certainly ugly, and I'm continually shocked at management's inability to respond to drops in the pps. Especially seeing as this drop is on fairly insignificant volume (in fact, we have drifted down from the .40s without real volume considering the 650 million plus shares (remember when we ran to the .70s on 20 million volume days?? We're drifting on between 1 and at the most 4 million days, with a lot of that volume buys). But that doesn't excuse managements seeming lack of aptitude for bouying the volume in between important prs.
It's fun to read all the bashers as they party across the board; just as we who believe in the stock partied when it hit .70 and the bashers were nowhere to be found, now that the stock has inexplicably drifted the bashers are partying and most of us who believe are staying quiet as we nurse our wounds.
IMO, the last 10q was actually quite impressive; Neom is in the process of building a megacompany, and of course it will take time for them to integrate their parts and launch their re-imagined tech. Revenues are increasing astronomically, and if they continue to increase this will indeed one day be a billion dollar company. Unfortunately, management needs a wake up call re dilution, and more importantly PPS. PPS is the singlemost important thing to a company like this, as it is the foundation of investment money and indeed the money needed to keep the company going. Management needs to institute either a rash of insider buying, or to release a pr involving a major name such as Google, Microsoft, Virgin, or a client such as Starbucks.
IMO, the reason we have had this drift is simple. Chas sold shares just as the company announced the 5 billion dollar share request. This twofold punch shook up the dabbling investors who had been brought in mostly by TS, and they began to sell shares. Insider selling at that point was inexcusable and disastrous. However, the small selling volume, though immensely impactful on the pps, shows that the bulk of neom believers remained believers. However, as the price sinks precipitously, people will get nervous; that's why management needs to act.
Anyway, that's my two cents. I believe we will recover from this and move forward, as soon as management gets into gear. I would love to see Chas buy back a million shares, but in any event, if we hit .10 i myself will probably do so anyway. Revenues are increasing, the company is growing, and the technology is becoming more and more a reality every day.
Bashers, have your day. We believers have had plenty.
Best,
Joe
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