what is going on?, page-4

re: what is going on?.... warren.. Maybe, and I could be wrong here, is that no one wants to hold on to a stock with the following track record:

6/94 6/95 6/96 6/97 12/97 12/98 12/99 12/00 6/02 6/03
Sales($) 0.92 1.33 2.56 2.79 3.66 3.89 3.87 2.60 1.00 1.26
Cash Flow(cents) -46.3 -63.1 -20.5 -28.7 -16.9 25.5 -77.7 -79.3 -2.7 18.8
Earnings(cents) 3.8 -18.5 8.4 -18.4 -54.2 15.0 -37.3 -36.4 -32.8 -62.0
Dividends(cents) 2.0 -- -- -- -- -- -- -- -- --
Franking(%) -- -- -- -- -- -- -- -- -- --
Capital Spending(cents) -11.9 -36.8 -28.2 -20.0 -17.8 -5.4 -9.4 -6.7 -0.9 -1.6
Book Value($) 1.36 1.18 1.58 1.46 0.66 0.78 1.27 6.05 1.34 0.72
Shares Outstanding(m) 26 26 30 31 31 31 35 76 81 81
Avge annual PE ratio 117.8 -- 36.9 -- -- 9.9 -- -- -- --
Relative P/E(%) 796.4 -- 290.4 -- -- 68.6 -- -- -- --
Total Return(%) -- -62.4 -21.7 104.3 -35.4 -43.5 368.0 13.1 -90.8 --
+/- Market(%) -- -70.2 -35.0 76.5 -33.9 -53.5 351.0 5.9 -97.3 --
+/- ASX sector(%) -- -51.7 -31.2 73.7 -18.9 -52.5 172.2 34.6 -67.3 --

It has promised some much for so long and delivered f all. The only people that make anything out of this company are the directors and management, they are all very well paid.

Its a dog of a stock and i would not touch them ....