a sad day, page-71

Hey Newjo

sorry mate - I meant you should get out a 7.7 cents not 77cents. I bought this company in December and sold for a very small profit 2 weeks later when I read the detail in the annual report, it basically said that bank supprt is contigent on them selling down assets. Although at the time the new asset position looked good, if one applied a 30% discount to assets , the NTA was quickly wiped out.
My advice to sell is simply that, and I have given it many times before on stocks that I once held and partly understand. Many of these times, what looks probable actually eventuates. There is no chance in the desperate state they are in, Tim will realise assets at anything near fair value. A capital rasing is off the cards as you would need to issue billions of shares, so administartion is very possible.
The point that I was trying to make is many people who are down 30% 40% 80% may think its too late to sell. My philosophy is its never too late, selling today would give someone the chance to buy another stock trading at the same level, with a future that may help recover some or all of the capital losses.
Lastly - a hold recommendation is not exactly flash, intelligent investor where very very positive on this stock, the fact that they say sell should tell you alot

Good luck