full year report analysis

SEN need to achieve Revenues in excess of $14m for the FY 2008 and reading between the lines this is all SEN expect with revenues to grow from FY 2008 (fiscal year)

The major risk in the short term are twofold.


1.....can anyone believe SEN will actually deliver when in the past everything they have said has not been achieved.


2.....SEN's cash on hand only has enough monies for roughly just over 1 quarters worth expenses.

I see a capital raising in the not too distant future to adequately fund SEN's ongoing activities and assuming no expense blowout.

I guess the upside is SEN is working from a terrible base but risks remain and the issue of trusting SEN in achieving what is announced remains key.

Only thing in the report of note was increased general expenses of $1.7m and again believing these will remain at this level in outward quarters is doubtful.

a poor report but nothing unusual as to what was flagged by SEN.

I would remain on the sideline until SEN can flesh out in more detail guidance and deliver results.