I was at the AGM and was quite impressed with the CEO's...

I was at the AGM and was quite impressed with the CEO's presentation. They talked about NETS taking longer than originally anticipated due to the many hurdles it takes for approval within the banks making up the consortium. As at the date of the AGM they were apparently waiting only for one more approval which was going to happen imminently, of which they had no control of, given the complexity in which banks operate. They were very confident that this was going to happen in a matter of weeks.

I have been a long term holder and I have been on the ride with highs and lows, and I have been disappointed with their performance over the past number of years, but I am quite positive that that they will be making a difference in the next 6-12 months. In particular, I am very pleased that their focus over the next 6 months is to bring the business to cash flow break even, which for me means that they will be generating stronger revenues over the next two quarters. They also made a solid point on focusing on costs to achieve their cash flow break even target in the next 6 months.

I was also enthused to hear about their ongoing relationship with Bank of New Zealand and the bank's recent marketing push and campaign on Payclip , which has resulted in a massive boost in demand for Mint's product in Q2.

I believe the platform that they have built is the value that the market is not recognising. , similar to the market not recognising the value of Aconex and the recent purchase by Oracle.

I believe with NETS coming on board as well and their push to move into other Asian countries like Malaysia it will result in the company becoming more recognised by the broader market in terms of the capability they have built in their payments platform. Cracking into these markets and have solid agreements in place with the banks like NETS and other financials institutions in Asia holds a lot of value, and in addition achieving a cash flow break even will result in the market recognising its true market value, which is much higher than what it is today.