Have to agree with you oorain :( I've been on NMS for must be 5...

Have to agree with you oorain :( I've been on NMS for must be 5 years now so have been through the lows and highs as well. I should have sold out when they were peaking but got deluded and kept on holding.

The relentless growth through aquisition funded by debt and cap raisings has really brung them unstuck in my oppinion, I was worried when it first started, now it seems that worry was justified. I've had my head in the sand the last two years, but I'm starting to get back into the swing of things now. Having a look at the number of shares on issue, even with a return to the previous profit of around $29 million and a relatively conservative P/E ratio of 10, we only get a sp of 60c...

I haven't even tried to look at what the ROE is, but I suspect it isn't pretty... based on this last report at the current sp the P/E ratio is around 115! if the P/E ratio was 10 we would be trading at 2c.

I really need to stop backing aussie companies with nice technology it causes me to lose money.... I really feel that if Australia is to continue to be a prosperous country, we need to back companies like NMS so we have something more than raw materials exports, but at the same time we need to see management who do more than pay them selves rediculous salaries whilst shareholders value erodes into oblibvion, eventually resulting in some overseas company buying out the technology for a pitance, leaving the shareholders with nothing and any prospect of the tech helping Australia's GDP going out the window.

Yes there has been a major downturn, and it should be expected to hit profits, but the rate of expansion IMO was out of control way before the GFC hit.. Businesses need to perform some risk analysis and do some forecasting, rather than just basing all of there decisions on current boom conditions.. It seems like aussie companies never look at anything other than the short term, and just don't get the idea that booms are just that, they don't last forever!

I made the decision to sell NMS at 40c a while back when they were trading sideways at around that level, I was worried they were headed this way... I took my eye off them for a week or two and they fell like a stone, decided to wait it out. Once again I identified what I should do but didn't follow through, and now I am regretting...

Right now my feeling is if I sell I will regret as well... I'm waiting for an announcement around the debt restructuring before I make a call, hopefully it won't be another bad decision.

Tony.