I suspect most agree, I held on the basis that the new business ventures would take time to replace the 1800 reverse revenue. There was also the residual profit from existing operations which was still flowing through. The remaining profit to be squeezed and potential optical upside was being prices at only $2m'ish . The $7m cash and franking credits are the real question.
With no sign of anything unexpected, no mention of capital management - im out today.
I still think there will be some extracted from this shell. It's got a tiny float, right structure, insto's with good reputations on the register and money to return or put to work.
Just the unknown of time which has finally made me bite the bullet when there are other plays (even other shells ) which are also cash backed and much more active.
REF Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
