Few paid any attention, despite recent shareholder wipe-outs from LibertyOne and eisa. Individually the dot coms are now insignificant small cap companies. Bundled together, however, the sector is a testament to the dangers of high-risk investing. All the money was gone by December and it was placed in administration without ever selling a fish. Waiviata, a decade-old travel publisher, turned dot com in 1999 with a move into online shopping coupons.
Shareholders have little hope of any return.
ISP is the third disaster associated with Internet entrepreneur Tom Koltai. Its chairman Mr Geoff Mullins resigned this week. Terraplanet shares have been suspended since it sacked its two founders. It recently sacked staff and is borrowing from a potential merger partner, Datafast.