tomorrows the day, page-15

Having read most of your threads on SMS, I suggest that there is a significant disparity between what the investors think and what the reality of the situation may be. If you backtrack through the company’s newsletters and announcements 4 years back to the IPO, there is a common theme about airline certification and the great big market that it promises.

None of these promises have eventuated which leads to the conclusion: That either the technology is wrong, or the market wrong or management has failed on both. If the technology and market is right then either Boeing or Airbus would have picked it up and surely revenues would have occurred. There is consistently no follow up to these alleged opportunities, so management is either ignorant or are underlying facts not disclosed or adequately explained?

A major concern has to be that the company has made all of announcements. Where are the independent and expert opinions? Are the projected commercial returns realistic at all? Where is the inventor? How many technical experts have served long term or remain with the company?

How can they possibly support the supposed market without R&D or expect any increase in value when they announced R&D was over and yet no product is being made or sold?

For the management to blame the government on rescinding grants and the financial markets for distancing credit is astonishing gall. It is very easy to posture innocence when ones well being is at risk.