simon ehrenfeld delusional, page-112

"EBITDA has actually declined from $ 3.2 million to $ 2.6 million. A decline of 18.8%. This means that EBITDA margin has declined from a relatively healthy 11.9 % to a poor 7.1%.
NPAT is barely positive at $0.3 compared to 1.6 million in 2004/05"

Greg Searle, you are claiming to be unaware of the reasons for these changes, despite your presence on the board during the relevant period. That is, you are posturing.

As you know, the margin in dial-up is huge, and the margin in resold-Telstra DSL is slim. As the dial-up revenue was replaced by broadband revenue, the company's gross margin shrank dramatically. This is, at bottom, why the board decided to invest in the BroadbandNext MSAN network, which is lowering our cost of goods sold and therefore adding significantly to gross margin. You know all this, and you should have the sense of responsibility and stewardship to admit it, instead of this reckless and immoral attack on the company's financial position to which you have been party.