adacel - great company

Uninformed punters have sold down ADA recently on the basis of no news. However, the facts that saw ADA trading above $1 just 2 months ago are still in place.
-- profit forecast for FY04
-- Successful Thorney-lead capital raising completed
--big projects in the pipe line (not just ATC but also voice recognition software, and simulation learning)
(NB. ADA haven't lost a major ATC contract in 3 years. Company winning small contracts all the time. Most of these are not disclosed to the ASX for confidentiality reasons or because their value is less than $1.5m ).
--North American opperations still expanding due to increased US defence spending.
-- Major contract announcement due before the end of this calendar year.
--Reduced costs due to major restructuring understaken in FY03
-- Company NOT adversely affected by strong Australian dollar since virtually all of its ATC costs are in US dollars (i.e., they have a natural hedge).

At 70c, ADA is an absolute bargain (Yes, I bought yesterday).