In my view-
In current conditions they were unable to convince the market the Con note was good. Looks like they are seeing strong return on investment and want to push growth without the risk of a repeat of last year where they had to choose between marketing spend and debt payments.
So options would be... sacrifice growth potential or Con note share payments which would see monthly raises at a discount and pressure the share price again.
13c Raise not ideal but this should signal forward momentum from here providing key metrics have increased as stated.
Another positive is the balance sheet should look very healthy for year end and with solid net receivables, so hopefully the instos/SI,s stick around this time. (It's only a few months)
The market in which this company operates has developed significantly since the purchase of track. Default ad blockers etc etc.
Hopefully the company is well positioned now for growth through 2020.
Might finally get that re-rate.
CM8 Price at posting:
12.5¢ Sentiment: None Disclosure: Held
