I've lost money on them before, like most people. They have...

I've lost money on them before, like most people.

They have been going through a lot of consolidation, but wasted a lot of money trying to get the easy revenue from software (Portman, Portfolio Manager and ASP services come to mind).

Perhaps they will come out of restructure with some viable businesses (Clarity looked good at one stage) and perhaps they will bleed to death. No one really knows and (at the moment) no one really cares.

It looks like they are moving into annuity business. This removes technology premium from their price, but gives them the opportunity to prove they can generate cashflow consistently. Once they are producing solid numbers year-on-year (at a reasonable P.E. ratio) I'm sure they'll attract more attention.

They've missed the 2003 small caps rally so will have to keep posting runs (quarterly), waiting for the next run up. If they can do it, I'm sure they'll start to attract some insto support.

If you've opened the bottom drawer and found some stock certificates, I wouldn't wipe my butt with them as quickly as I would have last year, but don't get a loan against them yet.

Cheers