The company already mentioned the preparation for POD to Pertamina is ongoing since last year end and production delivery will starts in 2nd half. Even though the last quarter is profitable. So the 4th quarter result will be this month and if positive then it signal a milestone for the company to return to profitability solely from energy supplies business compared previous years.
Reverse consolidation is good.. shows company has confidence in themselves and want to be noticed.... just make sure its fundamentals are sound and future is bright.
Read more about reverse consolidation...learning something new is harmless...but having said that, this company has been making losses...so if u are investing in this counter has to be careful.
I have been holding this stock more than 5 years (before the merger) and have a very high hope as the CBM is schedule to be commercialize by next year (latest).
But after hearing that it will be consolidate to 20:1, I sold off all 5 million unit (50K lots) this morning even I lost around 200K.
I have bad experience in Hubline where I'm holding 1M units and consolidate to 20:1 and from RM0.01 to RM0.20. After less than a month, it drop to RM0.10 and currently at RM0.06.
I have a bad feeling that once Glotec consolidate to RM0.90 will easily go to RM0.30 or even worse less than RM0.10.
So you guys who still holding, becareful, I sold 5 million units @ RM0.04 and after it consolidate to 20:1 and if my prediction is correct and drop below RM0.30, I might buy back...
In case the CBM is commercialize n good profit is materialize, there is no reason for the share price to drop after consolidation ... further more, in order to encourage conversion of warrant to mother share, share price has to go up ... I guess this corporate exercise's objective is to attract quality investors so that they will convert the free warrant to mother share n contributing additional capital to the company ...
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Johnsonlee
50 posts
Posted by Johnsonlee > 2018-06-26 14:58 | Report Abuse
0.05 cent now. Seems will shoot up soon. BUY BUY BUY.....