Nexbis (ASX:NBS) near record low after difficult year

Nexbis (ASX:NBS) near record low after difficult year

Beleaguered mobile security solution vendor, Nexbis (ASX:NBS) is still languishing near record lows after a difficult year.

The company had a 12 month high of 57c but, despite its best efforts, fell from grace with investors after a series of negative announcements.

In February Nexbis reported a $21M nett loss for the first half– compared to $8.1M in prior year.

In March, the company requested a trading halt pending the announcement of a capital raising initiative. The share placement was significantly oversubscribed at an issue price of 15c.

In the same month Nexbis announced that it would embark on a third and final attempt to win a US patent for its mobile identity authentication technology.

In April, Nexbis called off its planned acquisition of UKI Asia-Pacific saying the parties had been unable to reach agreement or renegotiate an extension.

And in June to cap it all off at the end of the financial year, Nexbis announced that it had lost a million dollar tender for Vietnam’s Road Safety project.

One can only assume that after a string of bad news like that the only way is up in the new financial year.

Shares in Nexbis closed today at 7.9c

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Tags ASX:NBS Nexbis

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