I went to the AGM which was both sobering and refreshingly honest. I was particularly impressed with Craig Pool, spoke with him at length and told the meeting I'd be very comfortable for him to take over running the day-to-day operations in due course and when we can afford it.
Craig has extensive experience in the advertising and marketing game and runs his own show, whilst working for IMS one day a week. He agrees there is massive potential in this digital space and has already identified the aged care sector as a premium lead space where they can extract $200-300 per lead. Insurance is the other.
I suggested he has a long talk to Brendan, invest plenty of his hard earned and get some skin in the game so every minute he spends will be a win-win. He was very receptive to this and I'm really hoping we can have more of Craig's time and astute direction because we really need it.
The reason I invested in MBE 8 or so years ago was due to the incredible potential of direct digital marketing which is a sustainable and high value business. We are back to where we were before, but this time they aren't going to get distracted and take silly risks like we did with Clipp etc.
The US and China is a real scaleable option once we get the settings right and we can afford to look at Mandarin call centres after a Chinese decent fellow asked about this huge potential.
They are also negotiating their way out of the $14K per month rent on thre 23rd floor of William St which is ridiculous and killing our profit. Watch this space.
There is plenty of blue sky ahead if the current board can send us in the right direction and with the right staff. We mage a $70K EBITDA profit and we can hopefully improve on this in the current FY.
My confidence is building and I hope Craig gets more involved and makes himself, Brendan and us loyal shareholders a truckload of coin.
Then I can give it to my mate Q once again and win the bet this time.
PS. Good to see you too Beany.
IMS Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
