wimax will soon be here, page-53

Seems as though if Seven really cared about it's 58% investment in Engin that Seven would be doing as much as possible to help Engin along. So far Seven have done nothing to help Engin. You think they are going to start now?

I, like everyone else do not understand the Seven & Engin relationship. The last major announcement from Seven regarding Eng was back in April where they stated they had increased their shareholding to 58%.

If Seven were going to help Engin, you would have expect to have read and heard a lot more positive things from Seven about Engin. So far nothing. Some positive announcements from Seven & Eng this year would likely have helped the ENG SP some instead of allowing it to sink down to what looks increasingly closer to 1c.

As I have always stated, Sevens involvement with Engin is predatory, one can only assume that Seven want the SP down below 1c and tht they want ENG to run out of cash so that Seven can come in and but the remaining 42% for peanuts.

Look to the recent Engin investment in their Naked Broadband infrastructure, who knows how much cash Engin burned up setting that up. And there is no promotion of it other than what we see on the Engin website.

Seems to me that it is to Seven advantage to use all of Engin cash to improve the company, don't allow it any real marketing to push it's new features. Again, if Seven is so committed to Engin where are the cheap subsidized Seven ads?

Note that we did not get a 4C from Engin last quarter, as an older ASX listed company they are not required to submit 4C to the market. But it makes you think, if they had made fiscal improvements they could have put one out or informed the market that things are going well now couldn't they?

My best guess is that they started FY09 with $6.5M cash in the bank. It's last quarter FY08 showed a loss of $1M. As we have no new information we can assume that Q1 FY09 lost another $1M in operational costs, plus maybe a termination fee for their CEO? Plus whatever investment was required for the Naked DSL setup, say $2M. That would get them down to about $3-$3.5M in cash maybe? Also, don't forget that there was about $6M of debt offset to some degree by outstanding debtors of about $1.5M.

Something's gotta give here soon, one would think. AGM on 27 Nov 2008, maybe some more answers there? Although the agenda is pretty basic, accept FY08 accounts, re-appoint & director and auditor.