with all due respect to your comments, the company raised a minimum of $400k in a Convert last week. That did not include some equity. On my calcs, that will give them approx $500k (See the ASX 4C). I believe that if you read the terms of the convertible, you will see an option component that allows the company to raise the same again via their conversion. (ie: Another $400k without issue of new shares - just options being converted). Along with almost immediate (we hope) revenue from the PTA roll out, I am hoping that the next time the company looks to raise money it is much higher - and for an acquisition!
ESN has been run very lean on no revenue for a long time. The development cost has been sunk now so any revenue is a major plus. Also, the focus in the USA is not so much on "revenue" but more in the value of amount of subscribers. A massive data base of subscribers in this case would without question make ESN a t/o proposition for anyone wanting to bolt on those subscribers to their own site of potentially shoot other product down the channel's opened by ESN.
Obviously Oz investors like to see revenue being driven by a proven business model. Time will tell!
Let's watch what unfolds. I
ESN Price at posting:
0.5¢ Sentiment: LT Buy Disclosure: Held
