Replies to post #14239 on SmartMetric Inc (SMME)

[Penny Hopeful]

Hello Whale,

I would suggest that you have a close look at the corporate structure.
This is essentially a one person company, that person controls the voting rights.
In particular, have a look at the Series B shares that she controls. There is effectively no oversight re compensation, incentives, vesting of Series B shares etc etc
Once you have a better understanding of the corporate structure, you will realize why no serious institution has ever put money into this company.
I failed to do proper due diligence and now think I have more chance of winning the local lottery than making money from this gem

Looking on the bright side , it was up 40% overnight.... pity it's down 99% since IPO