lol, well I am not sure about "back". I had to make a flying visit to the USA and everything is a haze of jetlag and insomnia at the moment. I suddenly found myself thinking about iWebgate so with nothing better to do I went and read up on what has been going on. I am surprised you ask for my opinion, and I doubt anyone else much wants it, but OK, briefly...
As far as I can tell they have pretty much dumped everything to do with iWebgate (name, boss, VSP product, Perth and US offices, etc.) and have left themselves with the VIN product. They seem to have abandoned their existing markets, including Telstra and the distributors they had in the USA, and have thrown themselves on that last vestige of failed western businesses everywhere: China.
Reading up on the VIN product on their (utterly dreadful, text, text and more text) website, it is clearly still the exact same thing I looked at for my client in late '14. There have been no announcements of new features (unless I missed any in my jetlagged stupor?). There are still no reviews of it online that I can find. They still make carefully worded puff piece announcements on how wonderful it is and how much potential it has, but never actually tell anyone how much money it is making (or might make). For good reason. They never managed to sell it in Australia, the USA or Europe, and I do not see any reason why the Chinese would buy it either.
I think your best bet with NET now is just to sit tight and hold. If your luck is in they will suddenly announce that they are in fact a blockchain or AI company, and the share price will quadruple overnight. Take the opportunity to sell. More likely is that they will go bust, the empty husk of the (still ASX listed) company will be sold back to the former Chairman for a song and he will use it for another reverse takeover. You will find yourself owning shares in a different company which might have a speculative run like IWG did in the early days. That would be your way out.
Just having a look through some of my early IWG comments, I found in my post of 27/02/15 I said "Don't get caught holding this stock when it all comes crashing down." Price at time of posting was 36c. And wow!, the abuse I took back then. Fun times! I honestly was not trying to rile people. I knew the company was a dead duck and thought people might appreciate the warning. I learnt plenty about the mindset of investors from the whole IWG experience.
NET Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
More likely is that they will go bust, the empty husk of the (still ASX listed) company will be sold back to the former Chairman for a song and he will use it for another reverse takeover. You will find yourself owning shares in a different company which might have a speculative run like IWG did in the early days. That would be your way out.
(20min delay)
