I am thinking that this is looking good for a buy. Cash backing...

I am thinking that this is looking good for a buy.

Cash backing is 24c
Currently price 17c

They are spending $4m a quarter. Not too bad really.

Scenario 1 - they keep running this company into the ground in which case they have about 2yrs of life at the current pace. This is unlikely.

Scenario 2 - they start getting traction with the product and happy days. This is not out of the question. They are making progress.

Scenario 3 - Tod and the others on the board pull their collective fingers out and get rid of Joanna and the stupid 1pg platform and put in a real deal. If there is another crap quarterly I think this is going to happen. Upon announcement of Joanna's departure this stock will re-rate to cash backing. Then they can put a deal in and spend all of that money on something worthwhile with revenue.

There is a real opportunity here. The 1pg platform may get traction, I am hearing good things failing that I think the board will take action and get rid of 1pg and move on to greener pastures. The cash in bank is a huge thing here and worth a punt - these KTM Capital (chairman tod) guys will not let this slip much further.