At least there's been time to get out as long as you saw the...

At least there's been time to get out as long as you saw the announcement with it holding up at these levels, expensive lesson for me though.

I thought it smelt rotten but the outer surface looked so appealing with such a low forward p/e. From reading however if the p/e is <5, the p/e is not <5 because someone knows a lot more than you do or you better know a lot more than the market.

I bought because I agreed with the 0c or $2-4 sentiment and because it should've have been the $2-4 as long as they executed the current projects they claimed to have.

Director buying made me top up and then despite warning bells ringing the combined buying made me hold as I thought they would know a lot more than me and the market.

I should have listened to my gut when Houston suddenly resigns after about a month as chairman and when they magically hit their profit targets without almost no contribution from their malaysian project which what nexbis was supposed to have been acquired for.

So either they were naive and incompetent or trying to prop out the share price while so they could make an orderly exit like Houston probably did, as we find out they don't actually have an enforceable contract in Malaysia.

I guess being young and trusting I didn't really believe that it would be possible to misinform the market to such an extent, especially over such a long period of time. It certainly has taught me the importance of good corporate governance which I had always discounted because I had no way telling the quality of a board. I guess from now on I will have to trust my gut a bit more when something smells fishy.