Well in a sense I never really went away. I moved to Europe a year or so ago, but IWG and subsequently NET has remained on my monitor list, so I have kept half an eye on it and what people are saying.
I do not doubt that iStoneSoft are smart people, but did you actually read what was said about their relationship with NET? Read it again, trying to remain objective:
As well as vague stuff about entering an agreement and creating an IoT lab, the meat of the announcement is that Netlinkz have given their source code to iSoftStone, and iSoftStone will be providing "engineering support" (whatever that might be). NET enthusiasts have taken this to mean that iSoftStone have faith in the product and are somehow coming onboard. My take is that it means NET have contracted iSoftStone to take the VIN software and develop it. i.e. NET are paying them to do a software engineering job. There is no illusion that has made iSoftStone come onboard, they have simply won a contract for a bit of work.
The "dumb asses" who have put their hands up for $20m are clearly taking a gamble, but what is their motivation? To make money, obviously, but they do not necessarily have to make money the same way you and other shareholders do. It would suit GEM Global to be holding shares when China Telecom buy the business. That would lock in nice profits for them, Tsiolis and anyone who bought in low, at the expense of those who bought in high and have been waiting for a recovery. In the meantime, and alternatively, they can take their newly minted shares and sell them (at 3.7c) and take a tidy profit off each one, again at the expense of current share holders who are seeing their holding diluted. So not "dumb asses" really. They must have spotted that NET shareholders will put up with virtually anything!
What we are seeing once again is a tendency for people to convince themselves that events are affirmation that their investment is a sound one, while objectively, and in reality, no such evidence exists. In stefa2766's post he says "We have ALL been told the Technology Works!!!" Yes, you have been told that, and in a presentation too. But where is the actual evidence? On a Twitter feed which was recently rapped by the ASX for making unsubstantiated claims? The usual weasel word claims by NET? iWebGate used to do that, remember?
Consider this: if China Telecom decide the technology is sound, they will likely buy the company and make the majority shareholders rich. I have a feeling that is what Tsiolis is trying to engineer. If, on the other hand, China Telecom decide the technology is not up to much after all and they drop it from their bundle in favour of something which works better, then what? Given the long and unsuccessful history of the product, you have to admit the latter is a distinct possibility. And since no one here can even state what it does, ask yourself who is now telling you it is different this time and what their agenda might be.
NET Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
(20min delay)