Hold your hats I have a storey for you on recommendations you get from people.

So, my wifes Uncle was hyping up this company AKP just 1 month ago and said its going to the moon. At the same time I mentioned DRO to him which he continued to scoff at and I thoought, this is a guy with closed ears and little experience.

So i came home and did my due diligence on AKP first with my technical analysis of the charts that told me it has further to drop so wait. Then I opened up Commsec and went straight to the Debt to Equity ratio which said 2238%. WAIT what. I have actuall never come across a company with a number like that. I thought to myself, is this an error on their site. I was never going to invest in a company with a number like that.

So I put it on my watchlist to see if it was going to fall just as my technical analysis suggested. Yep, it continued it's merry way down till today when I saw @Rapstar comments on the ASX shutting it down. Thank god I did my due diligence.

The thing that got me the most was this recommendation was from a family member who, wait for it, is a registered accountant.

WOW right

The money pit that has always been Audio Pixels, built on nothing but hot air for many years has reached the end of the line. Without a white knight / or new capital, AKP 's run of empty promises appears to be over:

The auditor has stated:

"in the absence of further debt or equity funding, the consolidated entity is expected to consume its cash reserves through operating activities during April 2024. " The company has also fully drawn its financing facilities.

ADP had $2.3 M cash on the balance sheet as at 31/21/23, with current liabilities of $3.8 million. An investor subscribed to $4.3 M in shares way back in September 2022, but never came through with the cash. It was a Chinese investor, and they cannot determine if they will ever get the cash.

As a result, the ASX has suspended AKP form official quotation.....

For those still following AKP it looks like they performed a demo at the AGM as promised causing a rally in the share price in the last couple of days.

Seems like AKP could be finally silencing their critics.

It has been many years promised, but the public demonstration of the miracle chip has been delayed due to delays in receiving chips and other critical components.

This company has delivered nothing but hot air for 10 years, and burnt tens of millions in cash in the process. How it has a market cap of $279 M is a testament to how long investors can be strung along with nothing but empty promises and pipe dreams..

So @Saintly96 on twitter makes an excellent point

This company is valued by the market at $500m.

Never made a sale. No working prototype. No clear use case above what is already available. Has around $50m in accumulated losses.

And after failing to deliver the proposed demo at the AGM, shares jump!

Go figure.

Management over promise and under deliver to a comical level.   

On May 25, they promised a demonstration of their technology by June 30.   

On June 30, they release an update saying they need another 14-21 days, but a COVID outbreak in Israel may delay this further.  

The company only has enough cash to sustain another quarter or two of operations, with no contracts or cashflow on the horizon I can see - happy to be corrected.