I think you guys are missing the bigger picture.... Assuming...

I think you guys are missing the bigger picture....

Assuming $1.5m Q4 receipts is correct, this would be a record quarter...annualised $6m in cash receipts.

Many investment funds as a rule of thumb would multiply this annualised number by between 4x and 9x for a proxy valuation.

At 4x it would imply a market cap of $24m against $8m currently.

Costs have come down since the previous quarterly record (Dec-2015) as the company refines its strategy.

Directors have shown a clear willingness to lend in the absence of new equity, and I doubt they will allow this company to go to the wall, with new loans likely.

Compared to some of the disasters in this space (RFN, 1PG, IOD, CXZ, DUB, UBN) these guys are delivering in spades & have a real business with real clients who are increasing their spend per annum.....and mobile marketing & messaging via apps/desktop & mobile is still a growing space!

In my humble this is a serious opportunity at current prices.........