It looks like a good acquisition but I am not so sure about the existing business right now, as the statement of recurring revenues expanding to 20m post acquisition indicates to me the existing business recurring revenues has continued to decline slightly. Are they acquiring their growth from now on? If so we need to revisit how EBITDA is seen as part of the acquisition consideration as it is really the same as sales and marketing costs of expansion. I don't know if i am right but if I am it will be like other companies I have watched for so long - market cap grows, but share price and cash balance stay flat
MSL Price at posting:
22.0¢ Sentiment: None Disclosure: Not Held
