We now have a market update which is a good thing although never...

We now have a market update which is a good thing although never a good thing when they are released just before close.

Looks like full year earnings 3.5 cents. Puts us around a p/e of 6ish.

Probably fair call given as yet the ability to grow earnings is not apparent. Still $5m in the bank and no debt.

However recent director purchases have been at a higher price than current.

Do you now prop it up with an on market buyback in case everybody runs away until new income initiatives kick in. Or does Mr 22 and a bit take it out?

I just cant see these major holders increasing positions if there is not confidence in forward momentum. Why would you do that?

Bit strange really