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You might want to check the momentum of ASX -
IMC.
----- Original Message -----
Sent: Friday, October 03, 2003 11:42
AM
Subject: [sharechat] RMG - up 24% at
1:30
It may actually be that RMG is finanlly on the move. Have
hovered around 3c
- 4c for the last year after their huge tumble from 25c.
After looking at
their latest financials it appears they have managed to
obtain a very
realistic team eg make it no secret that the last year has
been extremely
bad, also note that revenues have been spiralling downwards
and hit hard in
the last year. Cashflow still very poor and only managed
to stay positive
due to issue of more shares/convertibles/options.
Liquidity is very poor
0.4, however since dec 00 has averaged 0.8.
Revenues are down by 32%
compared to last year. However, what amazes me is
that with all this doom
and gloom they have still managed to win
significant contracts eg National
Aus Banks 92m of debt, debt recovery
contract with telstra (3year).
Still a highly risky stock however could
show promise if you want to buy
into managements realism.
Also to
note, at 1:30 today they had 500,000 buy orders with no sell
order.
regards
shayne
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