So, I had a fairly long chat to NC (just got of the phone). He...

So, I had a fairly long chat to NC (just got of the phone). He sounded stuffed. The poor guy must be getting smashed.

I only have 2 real updates from the call to give. Lets start with the placement

NC stated that he has no regrets in placing the US funds in the company. 3 out of the 4 that came in ARE STILL IN NOW and have been trading responsibly. He has the register and the nominee details behind them and can see it clearly.

NC said, it was one bad apple that caused the stir. His comment to me was "You look a person in the eye and they give you their conviction or word that they will do what is right and support long term, so you walk away and can only hope they aren't liars, it was clear that one of them was, and we were let down by the IB at the back end of the placement" (that was in not so few words)..... then he said "Welcome to America, where lying in your face is a art form"

Although NC said that Maxim did a great job leading up to the placement, there was a failure post placement. The result is that NC DID terminate the agreement. He would not disclose the new Bankers, but what is impressive is he stated they are global which means big!

What he did say, and MAN was it nice to hear, and Im going to do this in bold letters IF THE LISTING DOESNT FEEL GOOD CLOSER TO THE LISTING TIME THEN IT CAN WAIT!

As far as I'm concerned and IMO, that is a rock solid CEO making sure that us loyal shareholders won't feel the effects of these horrible US come New Yorker come Wall Street bankers if NC even gets a sniff that it won't go the way it should.

NC said every man and his dog is fighting for the AJX deal. That in itself says something about what the US thinks of this company. We all know that 50% of the reason why AJX needs to go to the US (and I am a supporter of this by the way) is because of this ridiculous volatility in selling in Australia, especially of late. We know where this place is going, yet we hover around this level. We all know NC works for the best interest of AJX and whats important to remember is that other than this one bad apple, the company continues to move forward for crying out loud!

On the second point... I have that feeling again that something clearly positivly impacting is around the corner. In normal NC way, he was obscure and vague, but I have a deep deep gut feeling, that this home furnishing thing (we all have figured out it bedding) is bigger than we all think. He did, say that we have already exceed last quarters figures.... SO THAT IS GROWTH, and in line with NC's strategy.

I hope that helps some of you....

Go AJX, you good thing... Its looked after us all, NC is a warrior and one of the hardest workers i know, as well as his team who have slogged away to create growth for us all, so maybe its our time as shareholders to really show these A-HOLE yanks what we are really made of!