Hi all, thought I'd drop in after being away from this thread...

Hi all, thought I'd drop in after being away from this thread for some time.

What a horror story I'm seeing with share price drifting lower by the day, and barely hanging off the edge of 2c right now.

My previous speculation on SHP management taking more up in the rights offer didn't eventuate (not a good look when they can't back their own decisions with real money). Instead it was the exact opposite with two directors picking up a tiny bit from the 3c offer, and the others not taking up any at all. The market has been picking this stock apart since its temporary spike at 4c to now way below the issue price.

Not good at all for those ~70m shares picked up at mid-high 3c in Feb pre CR, and the ~75m shares bought from the CR at 3c.

The ~120m options will continue to put pressure on the stock as long as option holders are looking to sell for close to nothing, instead of stumping up the cash to convert. Along with the overhang from Patersons holding some 45m shares from the CR shortfall, I don't know how the stock would go north anytime soon.

I think the biggest question mark is whether SHP management can pull a profitable business primarily out of YHD (FY13 numbers aren't a guarantee of a repeat for FY14 and beyond) and eljo. No idea what else is happening with toystore/sporting goods since domains were acquired. Ezidirect/wowbaby/ohki are too small for anyone to care about, and the old adeffective business is on the decline.

Simon and team, me thinks this quarter is about time you show us some strength in numbers (positive cashflow and EBITDA that is), so there can be a true re-rating of this company going into FY15 and hopefully sustained recovery of the share price.

As always open to anyone's thoughts on the above (if there is anyone else keeping an interest on this thread).