Pump, admin costs have increased alot during the year. This must be part of the quick expansion by IBY. Expansion without dept is great for the company, not so great for shareholders in the short term. Expect admin costs to level and profit to increase as business synergys and marketing take effect.
Had my sister in law check the Ensogo website form Philippines, she said it was a great website aswell. Philippines has a lot of internet users for a poor country with a growing middle class.
Hopefully today was the washout day on the market, one of the big players are selling imo, it could be a simple decision by fund management to exit aussie stocks or small caps no matter what. Otherwise they could be unhappy with IBUY, who knows. Cr talk is exactly that 'Crap'. Cap raising was to buy Living Social not to meet ongoing staff costs. IBUY has about 14million in the bank from memory plus they are increasing revenue with no dept.
E88 Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
