some people here really scared me :-(i still think it's a good...

some people here really scared me :-(
i still think it's a good thing, but i will be very carefull.
this was posted yesterday on sharescene.
sounds good ,but do your own research

Some research notes that were passed on to me by an associate who advised that they were from one of their covering brokers... released around the 24 February 2004.

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The company has confirmed that, at this stage, it is on track to achieve its forecast revenue of $17.9 million and NPAT of $4.8 million for FY04 (y/e 31 December 2004). At this point we believe that around $12 million of revenue is essentially confirmed with an additional $4 million to $5 million regarded as highly likely.

The company reports that, operationally, the business is progressing very positively, and that the market for its products is considerably stronger this year than in FY03 when the company achieved revenues estimated at around $13.8 million.

Our discussions with some of OTT's main telco clients have indicated that OTT's main Operations Support Systems (OSS) product is embedded in their network management systems with significant cost and timeframe involved in extricating OTT's solution. The OpenTel OSS solution is a key component of the telcos' drive going forward to reduce costs and improve service, and the clients envisage ongoing system development and enhancement activities involving OTT.

Impact
The current price of $0.01 implies a market capitalisation of $18 million and a FY04 P/E of 3.8.

Our valuation of $0.018 cents assumes, among other things, a relatively high discount rate. In the event that the company begins to deliver on revenue and earnings expectations we would expect a decline in the perceived risk of the company and hence an increase in our valuation.

We consider the current weakness represents a significant buying opportunity and maintain our Speculative Buy recommendation.

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note who their customers are!!!!

LG Korea
Telstra
Optus
Cisco systems