Chaps i think we have all thrown the numbers out time and time...

Chaps i think we have all thrown the numbers out time and time again.

Please see the following as per the last report.

Assets 607m (includes 369 intangible)
liabilities 436m (debt 230)

now to say the software assets (i.e the intagibles) is worth something is a fair statement (plus they wrote of 40m in the last half) the question is what, or more precicely what TO WHOM....

I have been critical of ISF mgt for a long time and it is poised on the cliff edge IMHO.

At these depressed prices it is difficult to see the company working a way forward without a major capital injection, or a sale of parts or the whole as the lenders would/could be getting reluctant to keep supporting the business (note that i am not saying the business is no good, just in a purple patch).

Furthermore at these depressed prices (and even up to the mid teen) ISF IMHO is looking like the perverbal lost lamb about to be someones dinner.

I am poised to change my sentiment to buy as soom as the announcement is released (assuming it is an offer to buy of course)