where is a good entry?, page-10

Beefheart - Deutsche Bank selling as well as Portfolio Partners.
Reasons for share price decline =
* Those 2 fund managers selling
* 0c earnings per share, not considering the $88mill writedown, if that is included, earnings per share last year -99c
* Cancelled the dividend
* Exchange rate at least 10% worse than last year's average
* Pays himself $1 per year wages, however, he has always received an income, could get interesting now - wonder if he is tempted to sell some of his shares
* The executive team is one of the biggest I've seen, both in size and wages, for a company with this capitalisation
* Not sure where I can see many growth opportunites for this company.

NB My mistake regarding staff expenses being $40mill - this is their revenue and coincidentally their expenses for the past year, according to the annual report.

I agree this company has some tangible value and I feel that this is less than 20c, but would wait for the outcome of the AGM for some guidance. AGM on Thurs

Cheers