I said to quite a few people they could have posted a $4 mil profit and the bloody thing would go down. The share market is driven by irrational human behaviour. Always has, always will.
But there is one thing that Mr Buffet always looks for and that's EPS growth and a conservative multiple.
It is currently delivering 0.8c and this will easily be 1.6c this FY from Australian income only IMO. With a $600K contribution from Singapore in 3-4 weeks, 2-2.5c EPS is not out of the question valuing the stock well north of 40c.
So in my humble opinion, watch Thorpey roll out his OS expansion and let the numbers do the talking. I'm hoping he has a few more carriers soon and the other 4 products before Christmas as promised. And as we have witnessed, boy does he deliver!
MBE Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held