Ann: Recording of Investor Call Available, page-30

I am another medium term CM8 holder and my investment value has been whalloped almost 80%.

I look back and wonder what I did that was foolish.

I bought in around the Track acquisition and on paper it looked like a great investment with good returns from that subscription division. There was a strong foreseeable revenue, profit and cash flow. Valuation was also seemingly good with a forecast PE of well less that 10. And prospects of growth. I was also attracted to the overall business (as Solarpat said) given that it was developing (or as I thought) mobile applications and working with mobile payment systems which I saw as a growth industry.

I think my main error was holding on too long during the obvious slide backwards.

I have been dubious about the initial "influencer programs" as it seemed a bit buzzy and I can't get a real sense of the product from the company announcements and information. The references to Cryptocurrency is a bit weak too.

So, now I just hang on as my investment value has been reduced to small. I do think that the low company debt is a positive and perhaps the potential of the social media marketing business is a reason for hope. The other businesses of subscription and Q&A may stabilise and they at least provide cash flow and cover costs for the time being.

Let's see if the Social Media marketing business surprises us.