Xanadu and Visomed look for all intense purposes penny dreadful stocks.
XAN has downsized to be only a Margaret River wine company now. and concentrating on the Xanadu brand. Even though there is approximately $21m of equity in the business (8 cents per share) as 31 December 2004, factoring in the sales of approximately $10m of businesses in South Australia and WA. If the business continues to make losses, the 8 cents per share will dwindle very quickly..making the 2.7 cents current share price to be true.
VSG is a significant punt with the Funhaler. Noticed company is raising $620K through a 20m share placement at 3.1cents.
I am a holder of Visiomed (VSG) & Xanadu Wines (XAN).