Hi All,
I have been phoning the Head Office quite a few times to no avail. The "I'll pas on the message" was wearing thin on me so I sent an email to their secretary as well as the entire management team. My email is as follows:
Hi <name with held>,
Thank you for taking the time to talk with me. I would firstly like to congratulate SmartTrans and the Management Team for their success so far with their business efforts in China.
I have previously tried to contact Mr. Carr regarding the expansion into new provinces but have yet to receive a reply, as I understand he is quite a busy man. I am unable to contact the Beijing office as I don’t speak Mandarin so I was hoping someone from the Management Team (your CFO for example) could field a few questions.
My questions for management are:
_____________________________________
1.
SmartTrans announcement (21 October, 2015) - SmartTrans expands billing service into Liaoning Province with China Telecom
SmartTrans announcement (17 November, 2015) - SmartPay surpasses 6 million customers in October
- - The announcement indicated strong customer retention rates of 80%
Question: Are the customer retention rates (80%) and growing subscriber base (40%) continuing to grow, hold steady, or are they reducing? There is a concern among shareholders that with the exponential increase in marketing spend last quarter ($2.5m) compared to previous quarter ($500k) is partly due to SmartTrans trying to gain more customers due to a decline in recurring customers and subscribers.
- - Recurring Revenue subscribers grows to 40%
_____________________________________
2.
SmartTrans announcement (21 October, 2015) - SmartTrans expands billing service into Liaoning Province with China Telecom
Question: What is the progress of this? What timeframe does the term “fast track” and “near term” mean? SmartTrans have expanded their direct carrier billing services into a new province in China every one or two months on average (as indicated by previous announcements). The last expansion into a new province (Liaoning) was October, 2015 and it is now almost March, a four month gap. As an investor, one would expect “fast track” and “near term” means a shorter lead time of expanding into new provinces than the average one to months that was previously being achieved.
- “we are now working closely with both China Mobile and China Telecom with a view to fast tracking further expansion of the Direct Carrier billing service into additional major provinces in the near term”
_____________________________________
3.
Is there a reason for SmartTrans substantial increase in marketing spend last quarter? I understand that to expand and grow a business, you need to spend money to make money. Is there the expectation by management that the substantial increase in marketing spend will equally lead to a substantial increase in revenue?
_____________________________________
4.
Question: There is concern among shareholders regarding the payment terms (which have since been clarified by SmartTrans in subsequent announcements) for receipting monies owed by debtors. Have SmartTrans had any problems in the past with receipting monies owed from debtors with these payment terms? Have SmartTrans incurred any bad debts?
_____________________________________
Thank you for your time <name with held>, it is much appreciated. I have CC’d management in on this email to ensure the message is circulated.
I look forward to hearing back from the SmartTrans Team.
Thankyou,
Will let you know if I hear anything back. cheers
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