ouch, page-5

Agree on all your points. Good buying at this price and the market seems to lose interest short-term in small, relatively illiquid stocks. After all, there's only 10.1% of the company's shares available for purchase on the market.

I note that Temenos shares have retreated in the last few days to just under 24 CHF, and the AUD has strengthened somewhat so people might be discounting any gains here. Also, given that this company is still burning real cash relative to real sales revenues at around 3:1 it probably makes investors wonder when/if actual profitability from operations (rather than financing) will come around. Still, as mentioned before, their cashflow is looking just fine for the next two years even if sales grow slower than anticipated, so I don't see any looming scary horizon. In fact, quite the opposite as sales are rising and (hopefully) operating costs are contained.

I'm a holder, and even a buyer again at prices south of 6.2 cents in the hope of picking up a nice little 50% gain when (or is that if?) the market realises the Temenos premium not yet realised on the balance sheet