what is going on?, page-24

Gordon,
I think you ahve buckley's of getting a response - I sent 2 to 2 different people and not a reply.
The clear fact is that managemant have no clue - this cannot be in dispute - a serial underperformer and the recent downgrade just proves it.
They appear to have no idea on cost management and clearly no way to budget/forecast. When you consider that a significant amount of their revenue should be in just "recurring revenue licence/support fees" - well - how hard can it be?

The problem now is that Oceania is a major shareholder and so is TAG (TAG just also happens to be managed by Cohen and guess who? - his son (how cozy)!! )
TAG will do nothing
Oceania are seeing their NTA dwindle precariously and with no apparent end in sight. All other significant shareholders appear to be bailing.

imo - the only hope is that Oceania goes looking for someone to take ISF over - that's it - pure and simple. The company will/cannot recover on its own - this has been well proven.

I did buy at 32c but wish I didn't