The chartists will probably find this funny, but has anyone been looking at ERG?
They've almost completed a 3 year restructure of the management, the company, and the balance sheet. According to a briefing issued in July 2004 they expect to break even for 2nd half 2004 and show profit from 2005. The business is smart card systems for multi-modal transport applications like One Link in Melbourne.
2nd half 2004 results are due next week, and given the date of the briefing I'd expect them to break even or to show a very small profit. The share price has been falling steadily all year. There are quite a lot of small bids from 0.270 to 0.250 - I don't know what that means, if anything?
Closing price today is 0.270. It's been on a long, slow slide since it fell off a >$26 cliff in the tech wreck.