safenet, page-22

re: safenets q4 result was $77m IMO, I think management already stated many times this FY profit will excess $11 mio NFBT, even mentioned in last 2 anns, but many just do not want to believe it, then market kept the SP down at current level, and made even more convincing to some to believe some thing wrong with the profit. Is not this is the tricks they can buy more cheaper stocks? plus now is pre easter holiday, IMO it is a traditionally accumulating period.

There are 4 issues on SFNT profit warning, 1. CFO resignation. 2. Merger deal collapse. 3. New Accounting rules. 4. High costs of merger collapse.

Seems nothing to do with SEN, Full details can be found in SFNT web site. FG already recognised the problem with lumpy sales with SFNT, and they already made some good moves on local and oversea deals, CTC, cybertrust, and centrelink sales, and I believe still many good ones to come.

Now, market already told us, if we believe management forcast, we can buy or hold, if we do not believe them, we can sell at current such low price, the choice is on us.

Just remind some FG is a lawyer, he may know more regulations than us.