cleaned up and ready to go

The annual accounts released today show a much improved profit and loss and balance sheet position for the company. Net profit of $408K v $10m loss in 2010. Net assets of -$1.14m v-$8.03m in 2010 , but with $100m+ in deferred tax losses.

I like the fact that the Board and management are taking only modest fees out of the business and are determined to add value rather than gouge it. Management are very open to talking about the company with shareholders - and have the motivation and credentials to make something worthwhile again of this once successul business.

The Viento takeover will be interesting to watch as it plays out - I am confident this will have a positive outcome for MCX either way - and then we can look forward to more building blocks being put in place.

I am sure along the way there will need to be more capital raisings, hopefully well north of 1.0 cents.

Now the results have been released, I would not be surprised to see more buying coming into the stock.