sovereign key, page-12

Hi Damo,

The most info I could find on Nexbis vendors was in ETC short form prospectus where they mentioned there were "currently" (at that time) two directors of Nexbis - Lau Chee Loong and Mansoor bin Saat. I couldn't find info on these guys, although it is possible that the former is a lecturer at Asia Pacific Institute of Technology in Kuala Lumpur. On the other hand, if there was any real reason to keep hush, then changes in directors, company names and so on are easily achieved and would possibly be tracked through the pay-per-view Malaysian companies register.
http://www.ssm.com.my/en/namesearch.php

Re tie-up between Citygrand Ventures and Sovereign Key, that address appears to be a large block of flats in Hong Kong - a smattering of which operate small businesses. Meanwhile, the IP address for mc2me appears to be in Kuala Lumpur. I guess it is remotely possible that ETC have a helpful contact in HK that they recommend to their potential partners as being experts in company formation, ASIC requirements and so on.

I'm somewhat intrigued as to how mc2me.com could justify $18m on a contract though, since it's a free software download. How do MSN software providers turn a buck? I've no idea.

I do accept Ousia's point regarding the TPID and ETC technology difference, although I'm unsure why the timing of the announcements links so closely to the TPID/Saddington agreement announcements - I suspect a link, but degree of relation between parties could be minimal. It also means an "elevator parts" contract is probably not on the cards for ETC (referring to 20500 comments).

On the one hand, ETC looks completely shonky. On the other hand, if I discard all the "facts" that 20500 posted as being potentially misleading, ignore the mildly irritating accounting aspects (most companies have them to a greater or lesser degree), assume the HK address link is a "business services" address and treat the margins as representing licensing/royalties rather than supply of services, then perhaps the whole business makes sense.

And then I'm left thinking that there are so many good cyclical stock plays out there to trade right now....

Best wishes to all,