could this be another sma, page-11

TCG

I must now admit after holding a substanial position in this company for far too long to have entirely sold out this week at a substantial loss.

I do agree with your comments over the past many months/years on a number of fronts however i truly think that this company will one day stumble across the opportunity that will transform the company in to a profitable business, although now not a business which should be listed.

How much more money will they have to raise (and from whom); and in the process dilute shareholders in order to keep treading water, this is the real reason I this week sold my remaing holding.

Yes, the are running at "skeleton" staffing levels, though this is clearly not enough. Those complaining about the MD's salary are correct, however a contract is a contract. I have personally met the MD and feel without him the business would be in more direstraits than it is currently, though who are the ones taking the risk ... the shareholders.

I have come to the conclussion (if only i did this when i frst entered) that this business is not one that should be listed with the shareholders footing the bill for past mistakes by management teams, they should have taken the existing business private years ago and put the shell up for sale.

A successful listed industrial business need to be generating a NPAT of a min $10mil to warrant the fees associated with being a listed entity ... shareholders live in hope.

Cheers

Clever1 - not so with this company

D: Take my comments as those by someone that lost substanial sums being a LT investor with this company