Hi Klogg,
Even though I was disappointed with management for what I believe was a misrepresentation of the truth (or at least, for not telling the whole truth), and I thought that the SP was going to drop to below sub 20, I still would not be too disappointed with your purchase at 27 cents.
Its book value is 28 cents (higher if you include their latest profit for the half), and although its profit is reduced, it still made a profit. You must remember it is an extremely difficult trading environment at the moment.
Note that this company is above the norm with only 716 shares of the 2063 currently listed that actually do make profits. That's right, only 35% of the shares listed actually make profits... So much money 'invested' as a gamble!
Keep looking at shares with high ROEs, low p/e and growth in expected earnings... You won't get rich tomorrow but it will set you up for the future.
In terms of ZGL, the price is stabilizing but I don't think there is any hurry to get in atm. I place it as a buy again but with a more cautious outlook.
Good luck.
PS - Finch2's comment are worth noting. I've been following him around and I have found what he has been saying is worth listening too. (No, I'm not a lurker!)
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