re: Ann: CEO's Presentation to Shareholde... Hi frankbaozhu,I...

re: Ann: CEO's Presentation to Shareholde... Hi frankbaozhu,

I suspect there has to be significant IP but my concern is that the company has a very narrow customer focus. It seems to develop products on the hope that the customers will come on board. The attitude seems to be that as long as there is cash at the bank all is well. The problem is that having developed the products realizing a proper margin. What also concerns me is that as new computing environmets emerge that the IP will loose value.

I cannot believe for management reporting that the key report is geographical and not business segment. What this means is that you cannot see where the investment has been made and what is profitable. Note they expense all product development.

My view is that this is a cray pot. The Thornley group do not seem interested in rocking the boat. I had thought that the share buy back process was designed for the three major shareholders to get their hands on the IP at a discount. I think now ( based on revenues remaing virtually flat) that I may have over estimated them.