There is no other choice but wait and see. I am not so convinced...

There is no other choice but wait and see.

I am not so convinced about "good news". There was "good news" report not long ago saying :

The Group expect to receive full payment for outstanding claims in the coming months. The balance from DET is $43 630 939.

That was good news but with latest announcement, I am not so sure about this FULL PAYMENT.

The Government contracted accounting firm to review outstanding amount.

Why?
Are all 200+ colleges involved in VET FEE going thru large and expensive accounting firms to calculate the payment? I do not think so, and IMO ( going back to the story in The Australian) this "privilege" was only for those 19 as stated by the newspaper.

So, it could be be more to the story than just an audit.

My knowledge of this sector is that once ASQA receives abnormal number of complaints from students or there are certain signs of "wrong doing", the regulatory body commence investigation. In some cases, RTO is warned of certain breaches but if the matter in eyes of ASQA is substantial , they would submit it to ACCC. And this can take few months thus possible delay in the payment.

The latest announcement is mentioning only about audit and Productivity Partners obligation to "please explain".

Was it the same case with previous payments? I do not think so.

There is no mention of the reasons for the audit and the AGM will be great venue to ask the Board of Directors a simple question: Was ASQA and ACCC investigating Productivity Partners?

Why I am asking? Because Careers Australia was asked to pay back $142 000 ooo after ACCC investigation. Perhaps someone followed this story and can provide answer to my question:

Is it possible for SIT to be paid soon and if they are investigated by ACCC and if found of "dodgy enrollments of students", to repay millions back to the Government?

None of the SIT reports to ASX mentioned this. Perhaps any involvement of ASQA and ACCC is not important in the education sector and not worth reporting ?????

My other concern is the foreign risk associated with the facilities at Clark base.
According to the report, the Philippines Government can at any time refuse Site to operate there without paying any compensation.
Their new President already shocked some of the world leaders and anything is possible.
As mentioned in Annual Report - this would have enormous impact on SIT.

When I compared revenue between 2015 & 2016 from other divisions - no much improvement.
Without 66% of total income from VET sector, I can't see SIT going back to over $0.35 a share( based on earnings ), which is what previous owners of Wild Geese, CPM, Productivity Partners etc. would expect to receive for the business. If I am correct - payments were : 1/3 cash and 2/3 script.

It represents lots of shares ready for possible sale at any time SP will get around $0.25.
SIT does not pay dividends so what is the point to keep millions of them for years.

The international students division?

I think they started too late. This sector is well covered for years with well established RTO's who have developed great reputation + the news is that many colleges which no longer can make fortune on VET sector are turning into international sphere. Again, too many colleges in the same field.

IMO the only opportunity with SIT is to hope that they will receive some money from DET, make few great announcements, which in turn can bring some not well researched investors.

Perhaps buying once announcement is made and sell on excitement. Short term trading yes for me, but not long term due to millions of shares issued to previous business owners, many years to replace profits made in the 2 years on VET sector and too much exposer in foreign countries in time of huge instability in the region.

Good luck to all long terms holders and hope I am wrong in my assessment. None of us (the retails holders) can afford to lose hard earned money.

Just expressing my view as perhaps some lost money with Intuiri and other ASX listed RTO's.
Once bad news hit the news, it is too late for many small retail holders to sell.

All above is IMO and I am sure everyone will DYOR.