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n3il123 on the 17th you noticed that the BOD etc don't seem to care about the shareholders. As the share price drops to ridiculous levels this leaves us open to a takeover bid and the issue becomes worrisome. In this situation, the BOD might take care of themselves and their institutional backers and throw the shareholders under the bus.
Bango is expanding in so many areas it is hard to define the leading edge. They are a major player in emerging markets, in large ticket high-value sales, in music and video streaming and in the gaming and special apps market. In October 2018 Ray hosted a convention in Jakarta, Indonesia, forging first-hand relationships with the developers who are actually making software apps. Being a developer he could communicate with them on their same level and demonstrate how teaming with Bango and Audiens could make their projects even more successful. Pure Genius, Now their success is also Bango's success. Indonesia has become the world’s third-largest smartphone market behind China and India and Bango was there from day one. Bango is the leading DCB service provider in Indonesia.
Tigerchamp you came on the scene a couple of weeks ago saying the company was in disarray, an officer was resigning and there was nobody to replace her. This was all proven to be a falsehood and there was never any problem with the management of the company. Now you recognise the company is in good hands and that they are sitting on a wealth of valuable customer information. Founders of the company recognised this many years ago. Rather than sell the information for short-term gain as you suggest they have brought in a company experienced with exploiting this wealth of data, worked with them for years in developing the software then bought them out and integrated the two management teams together. Two years ago when they amalgamated the two companies they also raised the capital necessary to cover the cost of the integration. Spending this capitol is what you refer to in a derogatory manner as cash burn. With the sum of the two parts being greater than the two individuals the companies are stronger than ever. They are now starting to show signs of this success. When the market wakes up to this success the stock price will soar. Rather than try and beat the price down to get even more of a bargain the only question that remains for you is if you have enough money to invest. Pull your head out and get with the program, and do try to keep up.
We must be looking at cash surplus. With EUS up 138% and Audiens attracting new clients every day we should be seeing favourable results by year-end. Clients are joining Bango to avail themselves of Audiens features and joining Bango for world class Direct Carrier Billing. There is a tremendous amount of synergy going on. Years of development and establishing a formidable share of the market is finally paying off.
As SavvySwede says, some people post incorrect negative information in an attempt to make people sell and the price to fall. Or maybe they work for the competition and just want to make the company fail. As for those groundless rumours about the CFO leaving the company, those rumours may fall into such categories. As I understand it, the previous CFO had a better offer and left the company last year. The company did the right thing in letting her go. That is standard practice under such circumstances. They then hired Carolyn Rand on a temporary basis. That gave the company a chance to make sure that she fit in with the organisation and gave Carolyn a chance to make sure it was the right move for her. After Carolyn had a chance to become familiar with the operation and go through the books as they say, she accepted the full-time role of CFO last April. She came in with her eyes wide open. This was a very professional approach and achieved excellent results. A win-win for all parties. How this all got turned around to the CFO was leaving and the company could not find a replacement is beyond belief. One has to question the motives and the scruples of the accuser. Bango is a great company and their performance and market share are improving day by day. Carolyn Rand FCMA CGMA FCMI CERT IoD is a professional of the highest standard and a powerful addition to the company's management team. The competition must be getting desperate.
iWantThatOne I agree. Sales have been exploding with EUS doubling every year and the company is expanding into new markets. The money they are spending is only following up on that success. They are investing cash in hand on sales support, new sales staff and new products. To do otherwise would be detrimental to the long term interest of the company. At this stage in the development of the company, the Directors are following the correct path. Cash on hand is not being squandered or burned, it is being wisely invested in a prudent manner to support a very successful operation. A visit to their website demonstrates the areas that are being developed. I have been investing in this company for some time now and I am very pleased with their progress.