I agree with etcetera. Could go either way. Of course there is a...

I agree with etcetera. Could go either way. Of course there is a chance they may go belly up, but there is also a realistic chance things could really take off over the next couple of months. I will not list the negatives (lack of clarity surrounding previous "deals" etc etc) as these have been pointed out hundreds of times over already. Some of the potential positives:

1. Although there (again) is confusion surrounding the $700M deal with the Cambodian gov't, there appears to at least have been some sort of initial deal done. Despite the fact that the details are cloudy (lack of tender process with other suppliers etc) there must be some credibility attached to the Nexbis technology for any of this to have progressed to this stage. Of course this has happend with previous deals and things have not appeared to have gone anywhere, however there is at least something being negotiated which partly validates what Nexbis are doing.

2. The company is currently recruiting staff in Malaysia, with reference to the office there being expanded.
http://www.jobstreet.com.my/jobs/2010/7/default/10/1090247.htm?fr=c
http://siva-my.jobstreet.com/_ads/my/jobs/2010/8/default/10/1105203.htm?fr=J

Of course this needs to be taken with a grain of salt, however may also be a positive indication that there is an underlying progression of business opportunities.

3. Trustdefender, although yet to confirm any big deals, has definite promise and is also employing and exploring opportunities. There has been a lot of negative sentiment towards this company on HC but I believe they have enough aclaim for their technology to believe there is a good chance they can add significant value to Nexbis over time. Some additional confirmation about the projections and accounting would be appreciated though - last I heard they would be equity accounted, but difficult to get an idea of what value this could add to the share price.
http://www.trustdefender.com/

Only time will tell. I think the upcoming financial report (whenever it is due??) will unlikely shed any light and will probably lead to further frustration. I only have a relatively small holding and am down in the order of 70% but am prepared to hang in as believe all may not be lost. Saying this, will be unlikely at this stage to increase my holding as there is plenty of downside risk too!