Forum Archive Index - July 2001

["nick" <helmett@xtra.co.nz>]

        Found it and i have to say it dosent look good news.
 Once again small shareholders have been stabbed in the back.
The reason for ITCs recent share price slide now becomes clear.
  What is less clear is why jeff dittus claimed to have no news
of streamlink when he spoke on this forum.  He is either incompetent,
very badly informed or was attempting to artificially hold up
the price, probably so he and his mates could bail out.
       At the time i welcomed his comments, which persuaded
me not to sell (nearly bought more)  In hindsight it
seems a little odd that he tells us the company is fine yet makes
no announcement to that effect to the stock exchange.
         On a positive note i think the news is now well and truly factored
into the shareprice, given that ITC only invested one million up front
it is not a total disaster.   What is more worrying is the way the company
is conducting matters.  Four questions immediatly spring to mind
    1. If the australian financial revue knows about streamlinks demise
         why has no announcement been made by ITC?
    2.  What made ITC invest in a company that was about to go
         belly up?.
    3.  What bet terralink next?
    4. Can we rely on any information the company gives us?

      Im just glad i only paid 17 cents a share, in hindsight its looking
a little sad. However ITC only makes up 4% of my portfolio so not
too bad.  Now have to decide whether to stay in and ride the storm
or cut at a loss on monday.  At this stage think staying in looks the best
bet
on the grounds the bad news is already factored in, and virtual spectator
is definitly doing well.  VC is a risky buisness and there are always going
to be some investmens that dont make it,  just a shame us small
shareholders cant be kept better informed.

 nick






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