rbs morgans moves to sell and ceases coverage, page-11

21 august 2009 – NBS sp @ $0.47:
Downgraded by Morgans from BUY to HOLD

In hindsight and with the information available at the time it was a good call, since the company has not been forthcoming in communicating clearly and perhaps honestly with the market.

Morgans in the meantime has now pulled the plug on coverage and recommended NBS as a SELL.

Will Scott Powers 14c call come home to roost?
Time will tell, but his past record in this regard has been good in an number of other situations.
(perhaps some TA guru can find a support level down there @ 14c ??? Fundamental analysis on this stock is now worthless since the information provided cannot be trusted)

>>Oh those clever analysts/brokers getting paid hundreds of thousands of dollars to research stocks and always after the horse has bolted they come out with the sell rec's.<<

A bit harsh to blame Morgan’s for being told porkies (like the rest of us) or getting no answers to valid questions by the NBS experienced 'no-talkers' (a strategy the sole Australian based NBS Director successfully applied according to this – “The next day he [Peter Dykes the Non-talker] refused an electronic interview because he did "not remember anything about the night".

Like other who would also like the company to be more talkative - honest, open and transparent in their communication with the market. Clearly they had their own reasons for not wanting to report their cash position and A/R activities !!!

IMHO, more bad news (could there possibly be more bad news ?) will surface as we move forward. So many questions so few answers. Just a couple of Q’s.

- What was the real reason behind John Houston leaving the NBS Chair so suddenly ?
- Whose money is being used to fund the NBS share buying by current directors?

Nothing implied, just like some clarification.

The company's mission statement in its last annual report:

"Our vision is to become a trusted partner to governments worldwide in their pursuit to create a safer world for their citizens"

A loooooog and painful road ahead, Gentlemen