shareholders were blind

Do I find where we are now at surprising, not really.

I have been shouted down by the cheerleaders for at least 6 months with the accusation of wanting to buy more shares. Remember I contributed heavily to the resurgence fund to keep the company afloat, why would i keep talking it down. No, my views were genuine concerns that the company was not travelling in the right direction. The promises by Goldie to many of you of the $100 share price were just too great to ignore.

So we are where we are. I know that the company is teetering, that is a fact!

So what is the state of play;
1. IXP is ticking over reasonably well, seems to have found some good gap in the market
2. PDT should be back to profitabilty but I question the fit with TZ. We can defer that one.
3. PAD - well the first thing is that while the product is good, it's not a game changer. Our competitive advantage was meant to be partnering with PB to offer an end to end open platform solution. Right idea but no-one is going to pay 50% more for that. KEBA are not stupid, they would have been down here in force (I think I mentioned that many months ago)...their solution works and is cost effective. So now we look to have cut ties with PB what is our software platform for integration with Postal operators. Do we have the resource to develop and maintain it? For this reason I see PAD becoming something we will offer to corporates but I do not think we will win large postal contracts...ever. The ones we've been invited on, we will be up against the established competitors and head to head we know what the answer will be. We couldn't win on our home turf, we have little chance in the big markets. It wouldn't surprise me for PB to have tried to put the pressure on TZ to buy PAD..was PB a partner or did they have an alterior motive?
4. ourPAD - this is where the company is going to put all it's energy, resource and money. This is going to ruin the company double quick as I don't believe consumers will pay $15 a month for a glorified eski at their front door.

So, what do management do now. ...
1. US business will largely be wound down, probably become an office in the corner of PDT
2. Many staff will be let go
3. MB will go to work on ourPAD

in my mind...ourPAD will fail and we will not survive.

Some on here think management may have learnt some lessons, I think they have yet to learn any.

We continue to pay massive salaries for part timers - do you think KEBA or others do that? We are where we are because of how we operate. Nothing has changed in my mind and that's why we are 15c, probably soon to be 5c. Reputations count for nothing in the technology business.