waiting for the sun, page-7

The only way we were ever going to see 50c yet alone 70c this year was with as USD100 mill (USD$50 mill for IPR) verdict in the Nortel case. Ultimately it was a sad USD5.5 mill for IPR and dashed any hope of really large increase in the share price imo. Yes, they have 35 mill cash, although I assume less once tax liability include, but they have fired most of their bullets on the litigation front and what others they have are years from being finalised. The problem new investors are having is why should the stock trade at more than cash backing on its current business model?

I think the reason it is trading at less than cash backing is because of lack of managment credibility and the belief they will firstly not honour their committment of a big return of capital to shareholders and secondly how they intend putting the remining cash to work.

I will wait until details of the review are released in hopefully late May and then decide whether to hold any longer or move on.