the misery continues, page-5

Unfortunately, I bought the story too. At significantly higher prices. I was pretty annoyed when they released an adverse cash flow report some time ago without any explanation. Predictably, the stock plummeted. I expressed my view that they were obviously inexperienced in fulfilling their responsibilities to shareholders and the market.

I received a response that I would characterise as arrogant, typical of those who cast themselves as "Masters of the Universe". So it is with a sense of Schadenfreude that I view their current difficulties. Only problem with that is that it has cost me heaps.

Oh, and I thought that the Ironbridge takeover proposal was 'cheeky'. The premise was we can take out the minority shareholders, and expose us (Ironbridge) and the principals to the upside. Nice one guys!

As it happens, it now appears that these MOUs haven't actually been so smart and have bitten off more than they can chew. Oh well. Some of my postions are bound to not turn out too well. Hopefully I have enough winners in the long run to offset stuffups like BVA.