Ann: June Quarter Results Presentation, page-18

Im happy to sit on the sidelines. Do I think they will miss it again... well let's look at it.

the additional merchants they added who have consumers, need to use their services. It's easy to say "look at all the merchants we have" but it doesn't mean didly squat unless there is consumer based revenue generated for Nov. So all good to add merchants, generating revenue from them is another thing. Hence it's waiting game, one Nov only has roughly 3 Quarters for at this stage. I read it as Nov have identified they do not have enough merchants to be sustainable.

cost cutting by Nov only stands about half a chance of survival of the company. Cost cutting in one place generally ends up costing more in other areas and has a negative effect on employee sentiment and company services if not done properly. I wouldn't pin your hopes on cost cutting to save Nov.

radical changes were needed way before they were instagted, I put that solely in the hands of the previous Head Sharang Peter Crook. I also put the duds Peter bought with our money firmly in his hands, but I think mark has tried to wipe his hands of that oxygen thief. He's not an asset he's a liability up until this point.

the cash flow positive mantra spewing out of both the current and the previous CEO's mouths of is what they are selling. Why are they selling it? Shouldn't the business speak for itself? How many holders here have been hanging on for that day to arrive, only to be told just over the hill, just over the horizon, it's just lip service, all the while your investment dwindles away.

If they do get there it's not rainbows and lollipops there on in, it's an incredibly long road to some level of recovery for existing shareholders, IE another few years at least.

i wouldn't hold my breath, unless you have to imo.