shareholders equity, page-13

While MNF seems to be a well managed company, it doesn't necessarily mean it should be included in the good investment basket.

Reasons:
1). liquidity (security)
2). blue sky potential (capital gain)
3). dividends (income)

Hence which of the above reasons will deliver an ROI for MNF? At this stage the answer would be none of the above.

The MNF directors and Symbio charge 65% of revenue while staff costs are at 25% of revenue. That leaves bugger all for the shareholders, so why invest?(reason 1, 2 or 3)

Even if MNF miraculously doubled their customer base to 140,000 overnight 'MASSIVE GROWTH', the %'s won't change ie it will still leave bugger all for shareholders.

At the moment MNF is only a good company if you're an employee/affiliate/services provider or one of its directors.

SO WHY INVEST?

Sparkler suggestions for MNF would be to

1). offer retail shareholder discounts on their VoIP services. Then watch the old money enter MNF.

They have a very marketable brandname hence it could be a very scalable strategy.

This would wake up the majors AND put MNF in the T/O basket the very next day imo.

2). Reduce the termination charges

3). Increase ARPU

The directors need to realise that MNF is a public company (and not a private one) if they want to attract investors.

Cheers,
The Sparkler