Negative NTA???? That's not news, even when this company was...

Negative NTA???? That's not news, even when this company was worth $1billion plus, it had a net tangible asset base of negative 40 cents.

The software this company makes is not a tangible asset, hence it is always going to be negative (unless they are able to stock pile cash and buildings.

A bad result, but honestly, was anyone expecting any better.

I prefer to get all the cr$p on the P & L, book a big loss, write off the intangibles so that come 1 July 2011 (assuming the company is around), it can start to book a profit and be a turn around story.

What we need now is cash. They mention 'significant cash flow' in the second half, what does this mean? will it be enought to turn it into a cash flow positive position for the 12 months? Probably not, but again this was always going to be tough.

I suspect there were a few stop losses triggered today that pushed the share price to 5.2 cents. I wonder what our biggest shareholder is thinking now of their investment, perhaps at these low prices there is no point to off load their stock. Perhaps if the share price continues to fall as it has been, I can take there stake for a pittance.

Mental note, should never catch falling knives. Was patting myself on the back when I picked these up at 15 cents, what an idiot!!!