Ann: Appendix 3Y, page-5

I don't want to be rude, but Matt and Simon own 80%+ of the company that was trading over $1.80 last year, and they saw substantial upside then.
There is no market takeover action that has any chance anytime soon, and any speculation otherwise is ill-informed nonsense.
Shorters are welcome to pound this into the ground, as there is no possibility of the business being in operational distress either. They have a growing business, no debt and plenty of cash in the bank. They continue to pour income back into developing the business, a long term strategy, but one that means casual examination of the financials looks like the business is break even.

I personally see this reinvestment of earnings as once off spending to improve and grow future incomes by improving the underlying platforms and adding new features, buying complementary businesses etc. And since my time frame is long term, I would rather have a stake in a multi-billion dollar business in years to come, than one growing less slowly but posting a trivial dividend.

I've been buying as these new lows are being hit also, and would be happy if a wave of short sellers knocked this down to 10c so I could buy many, many thousands more shares.


Escrow makes up a smallish part of the business, has good underlying growth prospects but is seeing volumes falling based on lower Chinese domain transfer prices, hardly the end of the world.

The freelance market place grew at a slower rate than expected due to a software issue that has been reversed on the main website (no more low quality "one-click" job listings).

Sure, it is possible these two things that have been explained are elaborate cover stories for a real story that freelancing is becoming unpopular and western businesses are hiring full time staff with benefits and ignoring the huge cost savings off-shoring offers...

Or the macro story that freelancing via the Internet is in a long term growth trajectory, that FLN is strongly leveraged toward, and these prices are once in a lifetime opportunities to acquire a quality growth business at bargain prices.