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Its true adamgus, ZIP keeps luring me back.

Every time I tell myself I am not going to buy again as I don't feel I have enough information to take a long term position (and thus don't want to be the last one holding the can) the SP falls and I find myself buying in again. With few exceptions, the market laps up announcements from ZIP and the price goes back up, the excitement rarely lasts long though.

I started as a loyal long term holder. Not as early as some others, but back in April at around 60c. I waited patiently and the price kept going up, the story was good and I liked the concept.

Then the day before the app was released to the Play Store, I downloaded a copy from Indian play store. I installed it and was thoroughly disappointed. Wondering what the company had been doing over the last 4 months with their 40 000 pilot users I was surprised at the quality and product.

Having had a moment of awakening, I did some more digging and research (which I should have done prior to my first purchase) and decided that things actually might not be as rosy or blue sky as I had first thought.

There are several things I agree with the majority of posters on.

1. ZIP Management have done an excellent job at driving shareholder value over the last 12 months or so.

2. ZIP Management are very good at releasing interesting and routine information to the market

3. The ZipT product is OK now. It works, pretty much as well as its competitors and peers in my latest testing.

That being said, the company has not yet proven any revenue, explained how much it is paying to acquire customers and just asked to pay its management $3 million in bonuses for meeting the previously agreed business plan that they announced in their initial road show.

The SDA deal which keeps getting mentioned (on HC more than by Ziptel themselves it would seem) makes me chuckle, I sometimes wonder if you whitelable something that already whitelabeled what do you call the end result?

Even the tenor of the ZIP threads has changed recently with some longer holders asking some pertinent questions.

My view of the company and product has changed very little since the 21st of June.

I am not suggesting the product is completely useless, or that the company will fall over and be worthless. Personally I just cant see anywhere near the type of SP appreciation that there has been over the last 12 months and until the company starts being transparent with what its spending and what its earning, sticking out of it as a long term thing.