Precis, I forgot they were once at 30c, the 5 year chart shows a range of between 3 and 9 cents.
The peak of 9 cents being when they won the lottery and sold the IT business they thought was worth a few million to Telstra for $30m. Remember prior to this they were going to split it up? (I wonder how the IT busines is doing??).
The now have cash in the bank from this windfall that they won't return to shareholders as they know they will not make a profit of any substance in the future so they need the cash pile to make day to day life easy.
I have concluded long ago that this business is not run by the Board for Shareholders but to keep lining the pockets of middle and senior management on a not-for-profit fantasy basis. They do some really interesting stuff with their product but they don't do it successfully and I suspect never will otherwise they would be making a profit of about $5m+ now moving toward $10m on a high single digit marginal PBT.
VRS Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
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