'EFTEL FLAGS BIG LOSS'Thats the headline in the finance section...

'EFTEL FLAGS BIG LOSS'
Thats the headline in the finance section of the West Australian today.

'Troubled IT company EFTel resumed trading yesterday after revealing it would post a $1.5 million to $2.5 million first half loss, despite revenues of more than $19 million.

EFTel said profits had been hurt by the falling Australian dollar, as well as high costs associated with its BroadbandNext network.'

The company must have had advance information a week ago or even before the EGM last week calling for Simon Ehrenfeld to step down, and yet it was not disclosed to shareholders at that time.

With this information secreted away from shareholders at a critical time this last week, Simon Ehrenfeld has squeezed a 7 day window of survival to retain the CEO position long enough to then float through the presets of the AGM held yesterday to be annointed EXECUTIVE CHAIRMAN!

How cynical and desperate. If EFTel only had leadership less interested in intrique, politics and stealth and more concern about effecting a positive outcome for ALL shareholders, none of this would be happening.