After watching and commenting on INT over the last few years it...

After watching and commenting on INT over the last few years it appears INT is getting closer to the Administration black hole.

Whilst I am sure I will get called a "down ramper" or maybe even a naysayer, the sell call on INT has not changed over the past few years. 3c, 2c, 1.5c, 1.2c, 1c, 0.8c and my last at 0.7c. Now with the buyers at 0.4c, I think most would happy sell out at any of those previous prices.

Whilst the faithful and those "close" to the action jumped up and down at my posts, only one of my predictions has yet to come true. That is Administration. Unfortunately, that prediction is looking more and more like reality.

The latest round of Accounts is showing a woeful story. At the time I commmented that their maiden profit was probably nothing more than some accounting magic, and today we find out that this was case.

It is time for shareholders to face one very simple fact. The INT business model is broke. No amount of tweaking will make it work. Internet and telephony are highly competitive businesses, and small fry companies like INT get eaten and spat out.

The INT turnaround story is dead. No increasing revenue, just more losses. No $15m revenue, and now $9m is looking like nothing more than a pipedream.

The company can no longer continue to lose close to $4m a year, and no doubt, the underwritters are getting nervous and I would not be suprised to see them walk on a technicality.

Those that follow my posts, know I am not usually negative about companies, as my time is valuable, and I have better things to do. As an ex INT shareholder, it took my own lost $$$$ to learn the hard way about the INT story.

My only hope, is that through the name calling and harsh words directed at me, that at least a few listened, cut there losses, or better still, never lost their money.

For those that still hold, I truely hope I am wrong, but this is looking less likely the case. I hope people like Kiril, who just kept on buying, do see this turnaround one day.

Just remember, its not a loss if you learn from it, then it is a lesson. And those are worth their weight in gold.