No biscuits sorry Gents
I did get to clap loudly at AGM. I admit to have owned a few dogs over the last 20 years so I do like to met if possible the management and directors.
Noted a lot and had several interesting discussions pre and post meeting. I'll share some in no particular order
Me -Staff and management are some of the most professional and trustworthy I have met. Dr Raby and Bryan - Mr Tang Mr Hawkins and Mr Forsyth all impressed and inspire confidence
Me -A possible/probable new manager for SMA was at meeting- A lovely lady Masters of IT who worked for China Mobile will be a exceptional new resource for growth IMO and clearly the Directors felt the same
as they have poached her.
Bryan- Statement - Retention 80% of customers are returning users
Dr Raby and Bryan-Possible expansion to Philippines and other country(s) being considered
Bryan- no issues if current preference in China of payment debited to mobile account changed to payment to credit card as SMA has established relationship with Alipay and Unionpay
Bryan- Work to date is "Just the beginning"
Bryan- SMA long term established relationship with Tecos, travel, banking and others in China is itself a huge safety barrier to any new competitor to SMA
Revenues are exceeding $1,000,000 per month
Before the meeting a nice broker I was chatting to whose business did underwriting for SMA (
TripleC) suggested revenue would exceed 22 Million this year. The directors did not correct this estimate
A nice chap who had held shares transition from mining to the current business really put things in perspective.
I asked how long it would take to establish in all provinces in China. The response from Bryan was that while each business SMA has relationships with in China are national management is province by province, SMA established relationships is seeing it being introduced to other provinces giving a natural pathway. As SMA product is business building inducing new revenue for the business using SMA development is expanding. Each province is developed with a view to long term relationships to mutual benefits. Bryan gave an example of Newspaper client introduced to telco client benefiting all including happily SMA.
Other Comments In brief :
-relations ships established during China Olympics are ongoing SMA logistics
-Logistics in Australia is doing well and is already starting/developing in China
Triple C has target price of 0.091. I wonder if this is conservative?
(20min delay)