In no particular order, here are the key points from today's...

In no particular order, here are the key points from today's teleconference with Steven Goh...as I recall them:

• MIG is approaching an inflection point at which it will begin to be seen as “unavoidable value”
• He expects MIG to achieve an operating margin (I think he said 15%) at least matching its peers.
• Over the next none months substantial progress expected as the relationships with Meitu and Creative Artists Agency bear fruit
• Over the same time Goh expects to attract “opinion leaders” (read celebrities and artists…I think) away from Facebook and Twitter
• Share price today mainly reflects the sentiment of Australian retail investors
• The sell down earlier this year appears to have been Aussie institutions exiting
• After roadshows in Australia the email enquiry rate from attendees is about 30% compared to 80% from HK roadshows and 100% from events in the USA. In short, Aussies just don’t get MIG
• More roadshows will be taking place
• User engagement rate from the Foxconn pre-installs is variable so they have been putting much work into getting that right. A recent trial for India achieved an engagement rate of 40% so big things as that is rolled out in the near future.
• A questioner asked about MIG’s market cap compared to Momo Inc which is listed on the NASDAQ. The questioner said that MIG was half the size of Momo (I surmise he meant as measured by MAU) but the share price was only 6% of Mom0. Goh said that Momo is a more mature business but over the next nine months he expects MIG to mature to be of equal quality to Momo.  MY COMMENTS:  If that means MIG will be re-rated to equivalence with Momo then that would mean a price increase to $5.92.  MIG would have to be NASDAQ-listed to achieve that.
• No comment was made on the timing of any NASDAQ listing
• Goh said that there are lots of deals being done that are not announced.