profit upgrade announced, page-29

re: dumping now yep plough if you bought in the tech boom when it listed back in Sept 1999 then you were burnt just like every other dot com back then. It back doored Windsor Resourses in the back door rush of the time. Even Hotcopper listed in Dec 1999 and soon had a market cap of $25 mill. Those were the days :)

It actually floated with just over 100mill shares at 20c on 15/9/99 ($20mill market cap) and rose quickly to peak at 59c early Jan at the height of the boom...we all know what happened next over the next 2 years with most of the dot coms.

Difference is this one survived where 95% of them are now gone. Its business model has finally gained traction over the last 18 months and now profitable. Mike has also not raped the company and the execs have very modest renumeration packages and shares are not issued willy nilly. Due to new banking interchange and transaction regulations you will notice one of their biggest expenses (bank transaction fees) has stabilised and even decreased even as revenues have grown significantly.

Just cause you were burnt once by macro forces doesn't mean it can't change. Just look at Burns Philip, in 93 you were sitting on $5...Oct 98 it was 8.5c...if you bought in then you'd be sitting pretty at 98c today. If it was fully valued it wouldn't be worth the risk but as a contrarian investor I reckon it has a great little future....