TA isn't the best tool to call on for volatile and speculative microcaps that are prone to wild swings.

Today's breakaway follow through was roundly rejected, but the price held a level that is close to the "twin peaks" of July/August last year, so that bodes well. Let's see if the market can build on that to the bullish side in the coming weeks.

A strong update, and the market has reacted accordingly, sending shares soaring nearly 50% on high volumes.

Hopefully it can kick on from here for long-suffering holders.

So the "material contract" was a bit of a whimper, but hey, atleast it wasn't bad news...

6A1197324_3DP.pdf

After all the games and flakiness afoot over the past few weeks, this isn't much of a surprise at all.

Not exactly a confidence building measure from management. The discount isn't steep and the little guys can play a part, but that is cold comfort given the deeply suppressed share price anyway.

• Placement to institutional, professional and sophisticated investors raises $2.0 million at an issue price of $0.12 per share

• Planned Share Purchase Plan (SPP) to eligible shareholders to raise up to an additional $1.5 million at the same price as the Placement

Given the popularity of this company on Strawman, I would have expected much better cash conversion on the ACV - the gap has been uncomfortably wide for several quarters now.

The non-reporting of that metric in today's update is also odd.