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very suspect

  1. extralite

    1,263 Posts.

    I think Grant you were dead right in questioning the figures that PEopel Tel release.

    If you see the answer to the questions on customers numbers by Colin Marland that I asked following your questions, he says that they weren't "official "figures and goes on to say I am being disruptive by questioning them.

    So it seems that announcements to the ASX on People Tel's customers arent official. So presumably the revenue forecast isnt official, the revenue to date isnt official, the profit isnt offical,who knows whether the company even exists "officially".

    With Directors holding 63% of the new company, they have the most to gain by making optimistic forecasts. Millions in fact. I am now very suspect on any figures released, I seriously doubt the $110 million forecast. ( as its not official figures) and I believe they will be adjusted to whatever suits and were never "official"

    I am holding SWT as I believe even at current revenue, which presumably is audited by an independent auditor, then SWT is undervalued, and I think it should be around the 20 cent mark post merger,bBut im not going to hold long term as if the director avoids fundamental questions on the state of the company, they have something to hide and I dont trust them at all.

    As he says, past investment decisions rest on my shoulders in respect of not trusting directors, but this one is the present, and Im not likeing what Ive seen from him so far.

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