Wake up - CXN is a shot duck, time to look for a new employer.
They've been posting creative EBITDA results exclusive of 'head office and other costs', they've failed to disclose sensitive information, even their own audit firm stated they don't have enough cash to last through 2011 let alone the 2011 financial year, they've churned a bucket load of executives, and now they can't buy a non-exec director for love nor money.
With all loan resources exhausted, with all business units deeply unprofitable, with a slew of cancelled contracts, and an 80% tanking of their SP, the ASX has dutifully rained on their charade - and not before time.
Read all the announcements - CXN is simply a venture-capital rescue job with a priority on window dressing to drive a quick SP spike ahead of building underlying performance to deliver steady long term return.
Monark, CXN's angel investors now desperately need an angel investor themselves, so why don't you sell your house and load up on CXN?
CXN Price at posting:
0.9¢ Sentiment: ST Sell Disclosure: Not Held
