what we learnt today...

Well from todays annoucement we learnt alot about the company and its management.

This is how i see it, all in my opinion....

1. Management want to stay in a job no matter what it takes and continue to take a wage from ISN and its shareholders and to do so they need to raise capital other wise they are out of a job.

2. Management know they will be needing money soon if they want to stay in a job and cant raise cash at current levels because no one is interested in a long term investment in ISN only a quick in and out prfoit like the bergan deal and to do so they need to share price to rise, so instead of creating company making decisions and actions for this so called "world class management" the easier option is to do a consolidation.

3. Theres no short term cataylsts/milestones that will drive the share price up so instead of building wealth they do a consolidation.

4. The board are looking after whats best for them, institutional investors and not the long suffering shareholders.

Taken from todays annoucement...

"The Board believes that share consolidation will make the Company more attractive to institutional investors and has the potential to reduce administrative costs and to help modulate short-term share price fluctuation."

If institutions are that interested in the company and want to buy in they can do so on market like everyone else! Unfortunatly thats not why they want institutions to buy in, they want them to buy in to provide capital to pay there wages and keep the company afloat. No institution would participate in a cap raising at such low prices because theres to much risk for them and wouldnt be able to make a quick profit hence the consolidation.

Also take note the company is concerned about "short term price fluctuations." What a joke that is, they should be looking long term and not worry about short term, just an excuse to cover up the real reason for the consolidation.

5) No current partner nor future partner is interested in providing finance. Management have failed to sell the products and story to the big boys. Sorry to crush everyones hopes and dreams of a white knight appearing in a funding partner but the "big boys" obviously dont rate the products highly enough to fork out there own money to keep the company afloat. This tells us they really couldnt care less if ISN went under because the products arent going to make them much money any way. If the products were that good they would be take a stratigic position in the company to reap the rewards on the sales of the products.

4) It sounds like from this sentence "Confirm the appointment of new Directors to the Board", that the board are looking to add more people to the board.

ARE YOU SERIOUS?? Your a $7 million market cap company, already burning around $5-$7 million a year, turning over little to no revenue, about to be diluted again and you want to put more people on the board? Your selling an app and a hand held point of care device how many people do you need?? Your not BHP or RIO....

Its becoming a bigger joke by the day and in my opinion the above is how i read it, i could be wrong but the share price and the actions of the company are yet to prove me wrong.

Good luck all more pain on the way.