Not personal at all HP
However i would ask what did you want to see??
The margins were always going to get crunched as he has had to pay away to Worldline and NAB for the processing. This has been well voiced.
The revenue in question is contracted so not going anywhere and the GPTV will grow.
It is simply a pessimistic view, i would go further to say tall poppy syndrome, to assume that they have reduced margins to buy revenue. Sure its possible but there is no basis other than scepticism,
No one complained about the performance targets when they invested at 3 cents so you cant really complain about the dilution now.
I think its simply the fact that margins have decreased (justified) and the fact he scraped in for tranche 3 at June 30 which has created the bear trap.
I would re-iterate though there are no surprises here and if anything revenue has way surpassed expectations.
Sadly we have a largely uneducated and emotional retail shareholder base in this stock and they dont do themselves any favours with promotion.
As you would know investors have a herd mentality and they have spoken here. Good news is they are usually wrong as in such examples as AVZ and GSW.
I have no doubt in the medium term we will be a lot higher.
Good luck
ISX Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
