Results are extremely dissappointing, particularly with regard...

Results are extremely dissappointing, particularly with regard to improving Mul/managements poor market creditability.

As an investor you can only hope
1. They have defered some revenue/brought fwd expenditure to enhance 2006 results (excercise of options)
2. Balance of share raising is placed with a long term investor - the current practice of offering discount to short term players is going to put considerable downward pressure on share price for some time.

It will be interesting to see whether the ASX is on the ball with regard to the seven month old revenue forecast being 50% under projections.