Ann: Trading Halt, page-4

I think it will have to be sold to GE or a Japanese player. It’s been a runaway disaster since listing. Unfortunately, I bought into the sales pipeline fantasy and paid the price.

Software is a game of high sunk development costs, with very low incremental costs and trailing support/maintainance that is nearly pure profit. However, ENL has morphed into a data transformation project company — a low-margin, high-expense, high-stress business model that depends heavily on highly skilled (and expensive) team members. >$5M/year is just a small IT consultancy far from being listed. ENL now naturally lends itself to being absorbed by a larger device/scanner company with deeper pockets.