Structural Monitoring hits the wall

Osborne Park-based Structural Monitoring Systems plc has become the latest WA technology company to hit the wall, announcing today that it would be terminating the employment of all executives and staff.


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i was wondering if the board of this company still thinks this is an exciting year for them, as stated in last year's financial report. i find it staggering to read a few months ago that the company was going to concentrate solely on the commercialisation of its monitoring system. funny, i thought that has been the main objective for the last 12 years. i am guessing the 22 cents a share speculative buy statement doesn't stand anymore? what upsets me most is the managing director's comment on radio forecasting an 18 month share price target of 50 cents a share 3 weeks before an announcement comes out that they need more funding. maybe you can get a job as a radio announcer mr vellacott and raise funds that way. or maybe pin another medal to your chest for outstanding achievments in the aviation industry. just how good is the technology anyway???? but we have a patent on it, thank heavens. at least the tax payers wont have to fork out any more money for this. i guess the government knows just how good this monitoring system is not to give them another 2 million in a multi billion dollar budget. please send a copy of this to the smn clowns for me mark

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