My take out from the AGM this morning follows, in no particular...

My take out from the AGM this morning follows, in no particular order just as per the notes I made as the meeting went on:

Very upbeat tone, lot of enthusiasm for future growth and profitability prospects from Chris.

Carriers are very keen to be part of the customer conversion, as MBE enables one-action payment rather than all the hassles of entering numbers from credit cards etc.

19 staff globally. 1 in Singapore, 1 in UK, 17 in development team in Vietnam + 18 more in the UK via Punch.

No other companies in the Southern Hemisphere have the abilities with multiple Technologies that MBE has.

Southeast Asia is a focus plus other Global areas. No action in the USA - Chris said that the USA is not ready for what MBE can offer.

55 percent of growth is organic.

Chris said they have learnt a lot regarding the technical infrastructure behind mobile payments startups and are now able to get the integration phase down from 8 weeks or so to just a few days for future partnerships. Singapore and Switzerland DCB will always be low margins but are important in terms of establishing Beachheads in their regions. Overseas revenue is forecast to soon exceed local. There are 12 DCB carriers in partnership now and they expect 20 or so in total within the next year.

Clip - MBE now owns 31% and expect to end up with in with 73% via drawdown facilities and will ultimately integrate Clipp into MBE. Clipp is not currently profitable however is highly scalable and has great potential - they are pushing deals with the venues + $10 free vouchers if you download the app. Ultimately MBE hopes to earn five to six percent of transaction values via Clipp by offering deals and doing partnerships with the venues etc.

Huge barriers to entry for competitors. They have a handful of competitors globally, mostly European.

Share price fluctuation - Chris discussed the register, they look at it closely on a daily basis - as we know the base is heavily retail, not desirable, trying to attract more institutions (who are now up to 20% of register, and hope to get them to around 50% send to stabilise the trading patterns.

Legal case still not able to comment.

47 attendees at AGM I think Chris said, I assume voting attendees, big increase on last year.

Ok, that is all I have, sorry I haven't put it in a more organised fashion but best to strike while the iron is hot. I'm no expert on MBE so apologies in advance for any errors, omission, misunderstandings, already known info etc. Feedback to correct me welcome.

I enjoyed going, very worthwhile, and I came away impressed with "The Company", met a few HC guys but not all I see from other posts - next year we should get properly organised.