$1 Club, page-27334

I love reading all the posts about how this is a "dog stock" and that management are "inept" or that "nothing is happening".

There's actually plenty happening. The expectations were set when credit suisse pushed the share price last Feb. When it hit 80c it was not worth that amount yet. The problem is, most people don't understand valuations or have a strange way of valuing things.

I remember a lot of people saying this is a 3 year hold or a 5 year hold or something to that effect. Most of those comments were made when the share price was climbing and we're said in hype. I'm happy to read those comments about the company to be perfectly honest. If this early stage of the business is being identified as a "dog stock", it's going to be very easy to point out when the company is no longer a "dog stock". Numbers will continue to grow exponentially across all businesses areas and the share price will follow.

If the company has 30k app downloads now and 3000k merchants after 6 months what will it look like after 12 months? 60k customers? 80k customers? 100k customers? 6k merchants? 8k merchants? 10k merchants? The network effect is a wonderful thing and cannot be underestimated.

It's very easy for people to get caught up in the day to day or the here and now but the future has a funny way of sneaking up on us. I'd rather put my energy into working out what can be rather than what is, because what is, is fleeting. The growth rate is already being set. There's no wheel spinning going on.

Here's a great analogy for you, in software development a product is released and usually it's released in an imperfect state. It's almost impossible to deliver perfection on a first release. After a period of iteration the product is refined until it becomes beautiful. Take a look at Android for example, if you used one of the first iterations it was clunky. Look at it now and it rivals iOS in terms of look and feel. In the hardware world look at the first iPhone, it was ground breaking. Look at the current devices though and you can see how much it's improved. Don't get too busy looking at the here and now when it's easy enough to see what something can become.

My opinion only.