Well, there are now 533m shares on issue. Say CXG manage $10m...

Well, there are now 533m shares on issue. Say CXG manage $10m NPAT in FY11, thats 1.88 cps. Hardly stunning.

The dilution has eliminated much of the rebound upside imo. Huge destruction of wealth here. I remember a large placement at $2.70 3 yrs ago. Hard to believe that cash was lost through overpayment for companies, poor integration and operating losses.

The red flag here was that the operating cashflow never lived up to expectations.

New management will do better I'd imagine, but imo this is already factored in.