what is truth with nbs?, page-5

Glad to see someone has sense...

That goodwill restatement is pretty amazing, eh? Perhaps based on another expert view of likely future returns on Nexbis technology like the Grant Thornton report they used to value Nexbis based on the value of business in Dubai when raising money for the first purchase... including more than $US6m earnings to come from Dubai in FY09. Wonder what happened to that?

Unbelievable what was paid for Nexbis - $6m for the Malaysian contract rights $60m for the company and at least another $5m in option payments to extend the "option" to buy the remainder of Nexbis for just a few months. Yet the company only had about $6m of assets (working off memory here - this will take too long to write if I check every figure!)

The $5m loan was made to a Hong Kong company which very briefly changed it's name to "AQSIQ Special Equipment Ltd" (to look like they were associated with AQSIQ and the China contract?) and has now changed it again to CITP Holdings (Hong Kong) Ltd. Originally the loan was short term, but seems to have been rolled over to long term with no interest received.

The main people to make money from this stock seem to be the ex-Chairman (I'm assuming Bimm Corp acquired most of its shares from the Sapio purchase at 1cps - equivalent to 5cps post consolidation) and a mixed lot of investors from Hong Kong, Singapore and Malaysia who also got in at 1cps and have since exited the register at a handy moment - seemingly passing their place in the substantial holder list to Aussie investment corporations who have since exited themselves. Poor Orbis - or at least the worker superannuation funds they oversee - seem to be the next "bigger fool" in line.

I've tried to figure out what price the current CEO acquired his original shareholding at - I am guessing perhaps at the 20cps issue to "sophisticated investors" around the time of his appointment to that position and 3 months before the 40cps issue to institutions. I am rather surprised that he appears to have been the inventor of the Nexbis technology, since he was listed as COO of EMT Corp in the notes to the acquisition docs - perhaps that doesn't qualify as needing disclosure?

Only one more week to respond to that patent rejection at USPTO too... guessing they will file for a 3 month time extension on Friday next week so that they can keep the "patent-pending" description a little longer...

There are just so many things that don't look right here that I will be truly amazed if they ever turn out to be "for real".