Ann: Flexiroam Signs Agreement With Brightstar, page-5

1. ZIP & NOR create a negative sentiment on FRX despite its fundamentals (revenue, innovative products & global partnerships).

2. Low liquidity, takes a few retailers to sell down 50% of the company market cap. The MD is well aware of this but can't be bothered to buy from market day to day basis.

3. Being based in Asia and lack of promotion by their lead manager (Patersons).

As a IPO holder, selfishly hoping this will shoot up real quick but I can understand why the top 20 shareholders (85%) couldn't be bothered.