buy recommendation, page-23

Temple7,
I note your comments about the management. What they did is what every first-time CEO who wants to be big in "bisnis" does learning how to game the market. Real technologies need low profile long-term development. But this doesn't feed any egos or share options or promotional credit to first-timers. So in these cases there is always an irresistable temptation for newbies to make grand announcements about what is about what is being delivered "any moment now" by the untested/unproven developing technology.

Everybody, including directors, who has shares and options in these situations of new management is mesmerised by the share price, rather than the actual grinding, invisible, problem-solving in the field. Hence a constant stream of upbeat announcements that can never be fulfilled. And a steady decline in shareholder faith.

It is a shame that new CEO's and the directors who pick them have to practice developing "bisnis" skills with other peoples money and futures, but I guess people who want to be important in business have to learn somehow.

By the time share prices are halving and quartering directors usually have no choice but to hope downward averaging would salvage something. Failing that, some exit stage-left and phoenix arising reorgnisation provides a clean-up of the whole sorry mess and a fresh start to practice again.

It is not particulary CNX. It is every newbie.