Excellent set of results I just wish I bought more on the full...

Excellent set of results I just wish I bought more on the full year results bought a few in May last year on the guidance but failed to buy much more. This Charles Slaughter fellow is doing a fantastic job of of turning the company around in the last couple of years I think it's gots a long way to go eing tacked onto behemoths like Tesltra and Vodafone (AT&T possibly taking over)for this tiny company it's a boon. Sure anyone can do reverse calls but for now 1800 REVERSE is the number Telstra and Vodafone wants and REF owns that.

The free cash flow is excellent up 10 tens in price this year but a forward cash flow multiple of about 7 which is very reasonable still. $15M company partnering with $63B company in Telstra is excellent.

My statements from last May 13:
"I wonder if this turn around will continue with VHA and Telstra on board now and will the reverse calls from mobiles become feasible I'm betting a bit that it will continue. With Telstra's reverse calls up 48% from "out of credit" phones. Been a huge train wreck for shareholders I hope the new CEO can manage this fairly simple business properly going forward. Guidance came in $750000 to $850000 EBITDA less $173000 from the sale but including other one off cost's so $577000 to $677000 FY 13 EBITDA normalised guidance $3.8M market cap here with $2M Net Cash or 2.1 cents net cash and sellingfor around 4 cents therefore buying the company for 1.9 cents in my view. Anyway fairly risky here."

"I noticed Comsec says MC $2M but Belldirect and Comsec has 94M shares outstanding times 4 cents per share roughly $4M Market Capitalisation just under. So illiquid though and risky."

Risky I said?? good one Duh!!!