This company has potential (its the best eBook platform out there), but eBook sales margins are way too small. ~15% margin means they need big book sales to remain EBITDA positive over the year (especially to cover the cost of sales staff).
Auspiciing services are very high margin, but it may take some time to build this sufficiently. Similar with software usage revenue - license per user is minimal.
Will revisit in a year to see their growth rate and assses accordingly.
RCL Price at posting:
27.0¢ Sentiment: None Disclosure: Not Held
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