Well after months of holding on and on I can now confidentaly...

Well after months of holding on and on I can now confidentaly say that OPM are gonig to be broker in the next 6-8 weeks.

Here's why..
1. They thought they were going to be pulling $200,000 from the search engine in July/August now they're predicting $100,000. They have also reduced their 12 month forecast for the search engine from $4.0m to $1.8m. How do you change your forecast by $2.2m (over 50%) in only one month? The answer is becaue you realise it is a crap business that will never really do very well. If it goes REALLY well it will break even in January 2006. (After they've blown over $1m on it).

I'll give them credit though, they have sacked some people from Ansearch as you can tell by the cash flows. Not as many mouths to feed.

2. Water sales - They expect to earn revenue from this thing soon but that will only go part of the way to paying for the machine to be brought to Australia. They reckon they are going to sell 1 machine for about $1m or so but it's going to cost them at least $700,000 (before delays and set-up problems) to get it here.
It might the best thing since sliced bread, but it sure costs a hell of a lot more.

3. No advertising. Looks like the Ansearch/Phonebook advertising budget of nearly $500,000 has been canned. Well at least they are not throing good money after bad. Oh no, my mistake, they don't have $500,000 to spend!

If I were the following people I would do the following.

A. Glenn Ridge - get the hell off the Board before my naem got tarnished. I consider myself a decent bloke with a good name in the tv production world so why would I want to be associated with a company that goes broke?

He hasnt contributed much to the Board yet s he could slink off into the sunset and everyone would be cool about it.

B. Peter Jermyn - Admit that I am going to do one hell of a capital rasing to my mates and others in August. Alternatively, I could just put the thing into voluntary administration.

C. Damien London (CTO - Ansearch). Dump my 20m or so shares at 0.2 take $40,000 and keep working at either Ansearch, on a fair but not wonderful wage, or the new company that buys them when OPM goes under.

D. Dean Jones - Admit that he sold his business to the wrong crowd for the wrong price. He fell into the same trap as the guys from Mediplan did. They gave their business to OPM in exchange for shares and options that are almost worthless. However the worst part is they thought OPM and Peter Jermyn could raise funds for them to grow their business. Why not ring up Peter Boston from Mediplan and see how he is feeling now about selling OPM his business. The thing doesnt even exist anymore because Jermyn promised to raise him capital to roll out the loan books but gave him diddly squat.

Dean could also do a few other things like admit Ansearch was forced by the domain name regulator to give back about 1,000 domain names that looked too similar to other exisitng ones. It doesnt really matter though in the end.

E. Albert Ho - Get the hell out off he Board and admit he knows jack about turnnig medical businesses into cash cows. How well is Telepathy doing. Take a look at its website. It looks like group of doctors got together for a hobby group to see what they could come up with, not a legitimate business concern. Somehow I dont think OPM can match it with the Mayne, Sonic's of the world.

F. Charles Fridlender - Try and buy back the 80% of his water business that he doesnt own from OPM. His thing has got legs but they dont have the $$$ to support him. It doesnt help that he isn't Australia's greatest sales person but he is onto a bloody good invention. He could also show his public displeasure at how muchmoney peter Jermyn has funnelled towards Ansearch instead of promoting the water side of the business (that could actually make some money).

G. Alan Leeming - Charles' right hand man. He could tell Peter Jermyn to get lost and focus solely on Water instead of monthly cash flow reports for a bunch of gutless Directors. He could try and help Charles with a proper website (current one is a joke, but they have no money to fix it).

OK, there's more info on the company than anyone will ever write in one post but I hope people will now realise (like I have) that these guys are screwed.

Their only hope is a massive capital raising at 0.002 or 0.003 which will dilute the hell out of current shareholders.

Thoughts anyone?