OLV - another mobile marketing opportunity

Ok... here's my thesis. All IMO and DYOR. Apologies in advance if any errors.

Background:
- OLV is a global mobile marketing company (++ very positive industry trends ATM)
- Core product is mobile messaging platform and recently launched intelligent messaging service (appears to be differentiated in market based on company pitch)
- Also provides mobile marketing services to clients (17% of revenue)
- OLV raised maximum of AUD$7.5M listing on Mar 31st 2015.
- Listed at 0.20 per share, hit high of 0.29 on 31st Mar 2015, share price has declined since.
- Strong Board (http://investors.otherlevels.com/Investors/?page=board---management) including Brian Mitchell, Steve Baxter & Tanya Cox.

Since listing:
- 11 partner announcements, major focus on gambling (recent signings with both physical casino operator, hotels and online bookmakers), games and loyalty programs

- These partners are very mobile centric, and should provide solid recurring revenue assuming platform delivers
- Staff and partner contracts are in forward moving markets (ie. UK/US)
- Generated $1.71M in revenue (Feb 2nd - 30th Jun 2015) on loss of $2.39M
- Total revenue for July 1st 2014 - Jun 30th 2015 was $2.69M
- Growth in recurring revenue per customer reported at increase of 29% (suggests trust in product)
- Customer renewal rate - 90% (reiterates trust in product)
- FY15 weighted FX rate was 0.8088.... (current AUD fluctuating around 0.72, suggests upside for OS earnings)
- At 30th June 2015 had $4.99M in cash on BS.
- Directors have been buying on market in August.
- Had 5th highest volume day on Nov 11th at 0.11.

Comparables
- CM8 (Crowdmobile) - recent acquisition of Track Holdings BV has added significant EV and value creation. Yet to rerate IMO. Recent broker target of 0.63 by WiseOwl.
- MBE (Mobile Embrace) - current market cap approx $140M. Very strong trading updates recently, demonstrates good headwind. Recent broker targets of 0.40+.

There are a number of risks (ie. CR, technology etc), however, at current progress, client list, CF and comparables attracting a lot of attention, OLV makes for a compelling speculative buy if you're following the mobile marketing thematic.

In addition, just saw this on Livewire 5 minutes ago...