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CNN 15.0¢

six monthly report

  1. Sugerbowl - as the resident expert on all things Cardia I would be interested in your views on the state of the nation regarding CNN - frankly my reading of the six monthly report out yesterday didn't exactly inspire me.

    All very "neat" with the Five business units but where is the revenue.

    The only "encouraging" aspect of ongoing developments is that Mr Yu from Tony Technology seems to be quite happy pumping in funds. I guess he decided he could well own or at least control the whole shooting match (with the next 5.5m share issue TT would have to be pushing 20%) rather then bother about a JV in China. At current share price he could own the rest of Cardia for $A7-8m. When I say "encouraging" I am recalling my experience with Chinese business people insofar as they rarely invest in anything that is not worthwhile. As soon as I read about the MOU regarding the "China JV" when the tie up with TT was first announced, I shuddered. MOU's in China are a dime a dozen and meam very little in China.

    However extracting $$$ from the likes of TT - now thats something differant again.

    Look forward to hearing from you.



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