possum2, it's a long bow you draw. Teachers Pay Dispute vs. 100m cable to be laid. For this you are calling for a mass shareholder backlash when really it should be GCN/Netbay issuing some sort of proceedings against the parties in question. Why hasn't this happened? Could it be because the rewards at the end of the day (WiFi revenue) are so small that it's just not worth it? This is only my opinion and I wouldn't know the actual figures involved but seeing the names of the advertisers they have signed up so far I dare say the income would not be huge. Having said that, any revenue at this stage would be welcome for GCN.
So this is the point I have been making in the past. If it's revenue that GCN really need that hasn't been forthcoming, why hasn't every stone been upturned by GCN to make sure it happens? Looking at their last quarterly it is really obvious that they need this revenue coming in for their long term sustainability.
Onto the WiFi project itself...why wasn't this issue identified earlier? Project Management 101 says you need to identify the critical path. It's quite obvious that VicTrack should have been on this critical path but wasn't. So 99% of the project is completed but at the 11th hour this happens? It really is a sad situation for those that invested thinking WiFi was going to be the saviour of GCN. It still might be but it better happen soon because at this rate they may run out of cash before it happens.
GCN Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
