I am not convinced directors bought shares with their own money....

I am not convinced directors bought shares with their own money. They may have, which would reflect poorly on their commercial acumen in my opinion, but I don't believe they have.

Things are never what they seem and the market has been constantly giving the feedback that management are not up to it. Contracts never seem to be quite what you might believe them to be. Cash never seems to stick. Revenues never seem to be real.

The big investors have been churned. Remember when Queensland Investment Corp was an investor? They sold into the shareprice spike a couple of years ago. They got sucked in originally and got out while they could. The institutions who later came on board on the promise of the chinese contract projections couldn't get out with anything worthwhile. The SP would crash to half pennies if they tried. What is the point?


I would afford a company like apple its secrecy about strategy. It has delivered results. NBS doesn't deserve any credit.

So far I have been right all along. For more than 2 years.
I reckon I will continue to be right all the way through. This company is not investment grade in my humble opinion.

Avoid or SELL would be my sentiment.