sonnet placed into administration, page-3

I guess letting Sonnet go belly has something to do with embittered elements. As they say, when thieves fall out.

Mind you, taking a glance at the CXN Q2 report, they'll be lucky to cover their $8m half year payroll in the second half through to June 30, let alone bailing out flatline investments they bought in a fire sale with stock.

If a company claims all business units are profitable, projects full year performance equivalent to a price earnings of ONE (wow!), then within a couple of months of signing off on such claims the same company feigns a strategic decision to trim low profit contracts resulting in a halving of turnover and a comprehensive profit wipeout, there's your red flag.

CXN management is either misleading or incompetent, or both.

Who in their right mind cancels (supposedly) profitable contracts with high profile clients like Jetstar and Vodafone? These are powerful brands that speak volumes for a company's pedigree.

No wonder the ASX has these guys in their sights.