how low can you go!!, page-15

Hastie designed sold and installed airconditioning, they relied on buying and selling with associated value adding services. Consultancies such as COF sell time and experience only, they dont manufacture, install or maintain anything.

The high australian dollar has been sighted as a factor in HST's end. Even an average management team of a pure consultancy should not experience such a strong negative effect as no equipment/ raw product is purchased or sold, people get paid in local currancy and charge in local currancy, there would only be a lower 'profit' than predicted in AUD terms when repatriated. Further good will imparement a possibility??????

An accounting irregularity would also appear to be unlikely considering all the bad news that has already been adjusted for in the SP.