the presentation release...

http://asx.com.au/asxpdf/20091119/pdf/31m56mybh94r6j.pdf

They are hopeful of collecting all outstanding debts by the China and Malay projects. VERY surprised to hear they have banked 16.5 mil from China, as I thought they had received only 10.17 mil. If it was a scam then they would not have received this. For whatever reason the payment is simply late.

Whilst they have finally confirmed the large forex loss, I do not believe they should be as high indicated. At least they are admitting these losses are more than anticipated. Transparancy and honesty to shareholders in a timely manner would be highly appreciated to regain investor confidence.

Hopefully the pumping is over and timely facts can be relayed to investors. In particular to each project and how they will perform in gaining timely terms of payment. Personally i feel it should be 30 days terms of payment. An incentive of a couple of percent given if the customers do not become overdue in payment. Give a better deal for the more timely payers, is how I always have felt a biz should operate its terms of payment.

They state they are to primarily concentrate on marketing their Nexcode security suite, as opposed to making near nothing on consulting services. I gather a good thing.

I am not sure about all these awards given to the Nexcode security, as they seem to be Malay based. In such an easy to pay off country, they could have simply bought the honours. It sounds more hopeful than previous...

I personally feel a PLUS would be to offload Dykes, as he is in charge of implementing terms of payment and collections that has been crap. I would buy more if they oflloaded him, as his past history of Pumping and dumping I do not like...

Marketing security channels seems like it is going to ramp up- they seem very optimistic on their Nexcode security system. I gather they are showing how it works in their roadshow- wish they would give the shareholders a demo at the AGM.

CEO REMOVES MINIMUM BONUS STRUCTURE- GOOD ONE Mr Young, very much appreciated- this was a sticking point for us. Now offload your useless past Directors please and get a team of GUNS together.

More promising, yet they would be in an investment presentation. Looks like Mr Young is gunning for some real changes- good...and all their hopes rest on the potential of the Nexcode security system and their Marketing\Sales force.

Hope the product is a good as they continuously make out- I am reluctant to reinvest due to all the past hidden losses made by Dykes. I think Dykes has done his dash.

Vote out Dykes. Give young a chance to prove this strategy and maybe some hope afterall...

Yet not all past sins can be forgiven so easily...Cheers