I've owned shares in this company since an "expert" from Port Phillip Publishing gave it an impressive analysis and recommendation many years ago. Too late, I later realised that EVERY share I had bought on the advice of the PPP "expert" was trading for less than I had paid for it.
By then I made the mistake of NOT selling these because I thought I couldn't afford the loss it would have represented at the time.
As a result, if I sell them now, I'll make a much bigger loss. Eventually the law of probability kicked in and the amount I stood to gain if any of the optimistic projections came good outweighed the amount I would lose if the company went totally belly-up (as some of PPP's other recommendations have already done).
When I read this morning's announcement I did a quick calc and decided that at 0.008 per share, I could pick up another 150,000 shares for $1,200 which would represent a considerable averaging down of the price I paid for them originally. The optimistic tone of their prelim report made me think that it would not take a very big increase in the share price to bring the value back up above my average purchase price if I did go ahead with the 150,000 purchase. Then I read some of the numbers in the report: debt numbers, and net tangible asset per share numbers, etc.
And, like someone else I read above, I've been burnt before, so I decided to proceed with caution and see what other NET shareholders were saying on Hot Copper.
I'm pleased I did. I've read several threads now and, apart from the absence of punctuation, missing words, bad spelling, incoherent articulation of ideas, and even worse grammar, the message that comes through in this thread alone is NOT to drop any more money into this putrid can of worms! What a tale of profligate waste of shareholder's money you have documented here! What unnecessary bickering, accusing, avoiding, and petty point-scoring! Do I want ANY part of this? No Sir! (To quote Eliza Doolittle) Not bloody likely!
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