Ok. Now they have released their expected 2011 revenue figure I...

Ok. Now they have released their expected 2011 revenue figure I will make some comments. It will be my only post until the full year results are released.

Have a look at the chart on Page 12 of the 2009 AGM presentation. Gestro, Kiddle and Meehan in charge. Same as now.

http://www.asx.com.au/asxpdf/20091116/pdf/31m2gcs1rvfsp5.pdf

Predicted revenue for 2010/11 (middle bar) of circa $15M.
Actual $3.5M
77% lower than forecast.

Their total revenue for this year is not even as much as what their predicted equipment sales would be. What has happened to the baseline equipment revenue of circa $4M per annum? Have they lost customers in that area?

The share restructure should price the stock at between 4c and 6c at a 1:20 consolidation. Not so sure that is a good move. Most share consolidations result in a lower equivalent price after the consolidation.