I tend to think your assessment is correct in that the market is looking at the business model and thinking it isn't sexy enough (vs. an RFN as an example). The interesting thing being that we are continuing to see growth (I'd love to see geography split to see if this is driven in developing markets). Sexiness of the model aside, the inescapable element here is that this is a profitable vehicle that driven Dom can use to leverage his track record of growth through innovation and acquisition. These bolt on acquisitions are where the snowball will very much start to kick into effect.
In the short term however, the proof will be in the pudding with the audited financial results proving there's still cash and growth.
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