re: buying opp dont think so

Think that those who have recently bought for a punt and placed tight stops will see NLX fly straight past the stops. At the mid range on latest 2006 earnings estimate, and last nights close of 9.5c, NLX is sitting on a pe of about 55. Given they have a very doubtful outlook, a pe of even 20 would be generous. Of concern in the press release is the fact the company needs to seek external finance to fund the $10 restructuring costs they have announced. Indicates they are just about broke and in no position to fund the purchase of any new business - what they promised when they flogged the best asset they had, the hire operations. Can see NLX trading down to 2c to 4c. Calling in the Administrators must be a distinct possibility. Any takeover offer would probably be at around the 2c to 2.5c level.

Just my opinion.