My latest tip..., page-2

You lost me Yak I have been buying some PWT under 10 cents.
Probably a bit of a long shot but the assets look to me to be worth more that 10 cents all things considered.
The depreciation of assets doesn’t worry me that much as it’s probably some government encouragement to get further investment in the sector and fibre optics don’t rust.
The company appears to be heading to profitability with some help from I think MAQ.

Company press release 2002-10-24

The company is generating sufficient positive cash flow to cover all operations and interest. This positive cashflow will grow in line with future EBITDA growth. Since PowerTel's last financial report on 12 September 2002, it has continued to draw funds from its bank debt facility for capital expenditure needs. The remaining unused facility currently standing at $21.5 million.

Reading between the lines (glass half full interpretation) the company is only drawing credit to fund installation of services that will be profitable.

PowerTel Limited continued to increase revenue in the third quarter of 2002 in challenging telecommunication market conditions. Sales revenue for the quarter ending 30 September 2002 rose 13.2% to $28.7 million, up from $25.4 million in the second quarter and $18.4 million in the first quarter of 2002.

Reporting the performance, PowerTel CEO, Stephen Butler, said: "Revenue growth was driven by consistent sales performance in the third quarter when over $12 million of new annual contracts for customer services have been signed." After achieving EBITDA positive in June 2002, PowerTel has continued to remain EBITDA positive throughout the third quarter, through a combination of monthly revenue growth and cost containment. EBITDA totalled $1.5 million in the quarter. "PowerTel's key stakeholders are encouraged by the positive EBITDA which is a significant milestone in the implementation of PowerTel's corporate business model. PowerTel's improving performance is proof that our model can succeed in the changed and competitive telecommunications market," Stephen Butler said.

Don’t think I would be recommending it but things do appear to moving in the right direction.

Gyro