Infosonic rally

Infosonic corporation (NASDAQ:IFON) is rallying investors to its new cellphone business! New customers received shipments in India and China.

This business may work after all!

The problem is, i don’t know if it will and the business is still burning cash. Until I see profitability, I had a plan on NNWC value for this company. My target price is now reached (1$) and the risk/reward ratio is now too high for me.

I’ll keep track of it, but my target value is acheived with comfortable profit. I prefer avoiding the risks of being dequoted from NASDAQ (May decision from NASDAQ authorities) or see the cash burn in creating a new business in an extremely competitive market.

I’ll keep an eye on IFON for further development.

Disclosure: None, Position is closed with profit around 23%.

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Posted in IFON, NASDAQ

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