Greedygekko,We are singing from the same sheet of music. IMO the...

Greedygekko,
We are singing from the same sheet of music. IMO the reason they set the price at 5cents was they realised support from current shareholders would be difficult irrespective of the price so they had to make it very attractive to the instos. They were always confident they would raise the minimum amount required.

An NTA/Price ratio of 1x for a service company is way below the sector average and when the PE ratio sector average of 25x is taken into consideration it looks even more attractive. This is partly why I took up my entitlement and applied for some shortfall to bring my average price way down.

The break even result for Q2 was a great effort considering the circumstances with revenue of $41.2m and lots of cost savings not yet brought to account and the reliance on vendors all but sorted out and no CL and a new management team to boot. Still a bit of work to do sorting out the directors but this has now commenced.

There is still a long way to go, no doubt with a few high hurdles to get over, but IMO NMS is on the way back up.