trading update - sounds positive, page-3

I'm not sure that this was as positive as may be suggested.

The three page update was long on rhetoric but short on facts and figures - in fact there were really no numbers at all from the company other than the agencies assigning more than $1b of online display ad spend through Symphony and 700 publishers signed with the company. Frankly, I don't know what this means for shareholders as it is not presented in any way that helps you understand the actual impact on the results for the company.

Cash is at $5m, with "normalised quarterly cash outflow" of around $2.2m suggesting that a capital raise is not too far around the corner. Hard to see how that translates into a significantly improved position over coming months.......

Despite the promise, a real punt sticking with this stock.