IMO The announcement is a bad read.650-750k profit for the 6...

IMO The announcement is a bad read.

650-750k profit for the 6 months (of which 382k is part of the Network Services divesment). Not a bad result, but I'd wait for the real data to come to the market - lets see what excuse they provide this time.

More importantly the future doesn't seem to be that rosy for WRR.

Convertible Notes of $1.65 mill matures in July 2009 and needs to be repaid. $300k unsecured load to be repaid in July 2010. To cover these and additional operating costs the company proposed 'another' issue of convertible notes.... Someone please tell me at what SP to do they aim to allot the notes at? .3c? A rights issue of this size is potentially doubling the number of available shares in the company - this is generally not something any listed company wants so things must be extremely bad.