Well, a close at 27c, now 27% down since results issued 9 August.
In an attempt to better understand what is at play, I have latched on to the apparent slowing of International DCB from H 1 to H2 2016 (as raised by others previously). As reported in Feb, Int DCB revenue just short of $500k for Dec and hit $525 k in Jan, with MBE stating 14 % growth per month.
In the recent announcement on Bahrain, they talk of $600 k per month for Int DCB and growing rapidly. Others on this forum have correctly asked what happened between Feb and Aug. Even at 10% growth month on month, the monthly Revenue should have topped a $1m. This is excluding all the new countries added since Feb.
Interestingly, in their FYE presentation, they change their reporting on Int DCB from monthly Revenue to number of transactions for H1 16 and H2 16, with H2 showing a 28 percent increase ( 1 m transactions).
IMO, the only possible explanation is that they encountered some problems when they launched their new billing platform in Feb 2016. This could have caused a break in their momentum.
If this is correct,disappointing that they changed that reported to disguise the truth, this after me saying no apparent 'spin' with MBE.
In the absence of the facts, investors must generally be very unhappy with the SP and I guess everbody's conviction on this stock is being tested. ( Excluding our friend Longshot of course ).
Roll on the AGM or an earlier update.
Any other thoughts ??
Rokewa
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