I have a paper loss of about $15k, but thats they way it goes on the asx. very poor management, it turned out that Rivkin was right, he pleaded with them for assurance as I did and both times they did not produce the goods.
The 9 hospitals in NSW and VIC made them a $900k profit in the last quater of 2001, they paid another $58 million for 4 hospitals in QLD an they are going to have a break even 12 months, so clearly the hospitals in QLD are the ones dragging them down, very bad purchase as it turns out and I dont think even Rivkin would have thought it was that bad.
I will probably sell my position over the next 4 weeks at a loss because more shares are coming off escrow in April. How the financials could be so far out has got me beat, I think they were swindled, or they are total idiots. Either way they should be locked up.................lol !!
