re: ERG - ECard another great deal

Informer I agree ERG is high risk to those that do not understand or research ERG/Proton's financials carefully. But your posts do not contain any relevant material backing your negative bias.
We know ERG wrote down all its assets to Zero. Proton included. We know that all of ERG's transit contracts from here on in are now cashflow positive. We know that ERG has demonstrated with the sale of Ecard that its previous writedowns are now worth something. Another $50 million there. We know that ERG will increase its index weighting now that its technology (Proton) will inevitably move from a 1.4% tech rating to a 27+% banking/finance rating. We know that Babc*ck and Brown has recognised value in ERG's balance sheet and is unlocking it.It is great to have them on board with a $30 million credit facility if need be. Plus the remuneration from Melb $20 million. Plus theSydney contract that will be announced early next year. $100 million upfront (Patterson Ord Minnet) from a $500 million contract.
We know that a full scale rollout is expected in Berlin next year, one of the worlds largest AFC's to date.
We know that Singapore,SanFransisco, Seattle and Lazio will provide revenues for a full term. Lazio will come on soon. We know that ERG's technology remains at the forefront. Proton winning the most important tech award, EMV, finance and banking, the most lucrative application off the scard. We know the critical mass of both ERG/Proton is growing and numbers over 80 million scards currently using 700,000 terminals. We know that all banking and financial institutions, businesses the world over are moving to scards with the impending ultimatum 2005 just 2 years away.Sure they will not all comply by that time but it is inevitable.
We know that ERG/Protons alliances have steadily grown over the past year. We know the importance of online transactions and the role scards play. We know that ID cards are now being seriously considered due to Sept11th. Rollout costs for UK and USA alone expected to be $7-$10 billion. We know that applications from the card are growing by the day and will be duly recognised with mass consumer acceptance.
We know ERG has or will accept tenders for approx 25 new AFC's contracts this year and next.
We know all that. Now you are telling us that ERG would simply go down the gurgler without stating why?
I want detail. I want precise figures that back up your statements.
What ERG's cashburn rate is now? How much has been cut? From what sectors?
Just a few facts. Who knows you may be right. ERG may go to the wall. But I need more than the standard rhetoric. You ever thought about going into politics??
Thanks for your posts.