There had been big buy orders go through yesterday as the announcement that the company had turned around a half yearly net profit of 2.2 million dollars (2002: net loss of $1.4 million). The company has seemed to have changed dramatically over the past 12 months, especially with the credit card processing and the minimisation of outstanding charges. ASIC invistigation in September 2002 has finalised with no action. And cash in bank of $13 plus million dollars.
The online Adult entertainment industry is is a billion dollar industry. And ASC has a major footprint in Australia as probably the only true online adult entertainment stock on the ASX.
Growth in this industry is for ever ongoing and due to changes and stability in the company, I see the company increasing its market share and share price. This would be a stock to own. With its recent activit on its share price I can only see value coming out of the company.
I am aware that there are traders that were burnt by this stock before, regardless of this the company seems to have be on track to mazimise growth from this industry.
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