I bought this one years ago thinking it was a good deal. I sold down for a slight loss earlier this year except for the shares I purchased via the rights issue at 7 cents.
I liked the quarterly but found it really needed to be read in conjunction with the two previous quarterlies and the half year results. Reason being as some of the cash in-flow in the June quarterly was due to a sell down of inventories that they had been building up. It almost seems that they were banking on a pro-solar budget, which failed to eventuate.
Still, it does seem that they have made some improvement financially, I look forward to the annual report. I'd be very interested to know what it was they were looking at acquiring earlier this year, and why they never went ahead. In April this year, according to ASIC documents, they were considering going to shareholders for approval for a share placement.
GOE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
