I came across this Bell Potter's report.Its on the MBE...

I came across this Bell Potter's report.Its on the MBE homepage(Investors section).A segment from page 8 of the report grabbed my attention.This report was written around march when the SP target was $0.32.As far as i know,MBE has signed up with more than one telcos,a couple of them infact since the report was published.(Even if we leave Russia out of the picture).As for the recent downgrade (presumably due to additional overheads),well sometimes we gotta spend money to make money.TPF is a good example.A tiny profitable company.