Staff levels went from 83 to 133 in December quarter. An increase of 60% however staffing costs only increased by 30%. Merchants are being system activated at a faster rate than they were in the early days of the app being released. Remember also that the new version of the app has only recently been released. This is just a process.
I don't think there's anything wrong with being critical of the business performance however I would urge you to consider whether your frustrations are with a lack of performance in the business or the share price. The two things haven't been running in step with one another for quite a while imo.
70% growth in the business however a 90% decline in the share price. PIL is priced down at less than 2c. A move in either direction is a large percentage. Not something I would be using to support an argument for comparisons.
$1 Club, page-29989
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