i found this old comment...

See below from Huntley 2001. Interesting reading.
Has anything changed? Apart from the $4.6 million in cash they had 3 years ago. Replace Avery Denison with Transcore and what have we got? I like the bit about Directors being on notice for 2 years...well since then another 3 years has gone by!! I also like the bit about directors doing the right thing by shareholders. Well it is very hard to see how the rights issue of 2002 could be called "doing the right thing by shareholders". And notice the share price. What has this company been doing for the last 3 years??? Over to you Ted.

21 March 2001
MIKOH CORPORATION (MIK) $0.05½
Last Reviewed SCG 260 Mkt Cap: $3.3m
The lack of visible success in commercializing MIK's technologies continues to concern us. Sales revenue
for the December half declined from $149,496 to $144,998 despite continued positive comments from direc-tors.
Accumulated losses in the balance sheet now approach $12.5m but on the positive side there is almost
$4.6m remaining in cash or sufficient for about two years trading at current burn rates. At $0.06 the downside
has been overdone as long as we can believe that current management can deliver.
The Counterfoil and Subscribe technologies are said to continue to show opportunities despite lower than
expected sales to date. The Avery Subscribe licensing agreement has not developed as anticipated, and Avery
has not renewed its exclusive rights under the agreement. Subscribers may well recall our commentary that
despite optimistic forecasts no details were forthcoming on the success or otherwise of the Avery progress for
quite some time - that is an ongoing concern going forward i.e. shareholders being kept up to date.
From our last review we expressed some shareholder concerns from those who had been to the AGM that
MIK seemed to be backing itself into a corner in detailing the RFID (radio frequency identification) poten-tial
by the end of March. If this is not forthcoming there could be some further selling but with two years
cash in the tin the price has already come too far south and if there is a change in leadership after 10 barren
years for shareholders the shares should have strong upside from levels below $0.06. Directors have been on
notice for two years - we would hope they do the right thing by shareholders and change at least some of the
people calling the shots.