I have already made my MNF connections disclosure here on HC, research and you shall find it.
MNF gets its customers & spectacular growth rates from smart marketing and simply building a better mouse trap. Your suggestion that they have been gifted 65,000 customers from a wholesale backend supplier, Symbio, who probably has about 20 customers in total are ludicrous.
MNF declared 39% margin in 3Q FY09, as a peer comparison ENG declared a 52% margin in 2Q FY09. ENG has 80+ staff and lost $12M in FY08, MNF has 35 staff and lost $1.9M in FY08. Seems they are paying a fair price to Symbio for VOIP backend.
Symbio do not own 65% of MNF. 2 of the MNF directors own 46.04% of Symbio and Symbio own about 5.29% of MNF. As for MNF needing money, well, they have not in needed it in the last 3 years, they struck a profit for the first time this year and their growth goes on unabated. No apparent need or plans to do a cap raising.
MNF shareholders have been told to expect $10M+ revenue in FY09 and are already into profitibility in 3Q FY09 as per the 4C and cashflow by 3Q FY09 had already exceeded the revenue & cashflow for the full FY08 year.
You really need to do more research before firing off posts like your last one.
MNF Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
