60000 paying customers up 7500 in 3 mths, page-3

Yes, quite a good actual business. You could say quite boring from a financial viewpoint as they just plod along, growing at 100% PA and breaking even.

When you consider that the VOIP market really has just a handful of companies the peer comparison is staggering.

Engine, ENG has maybe about $5M of cash, 635M shares on issue @ 2.2c, market cap of $12.7M and it has revenue from about 85,000 paying customers, ENG is still in cash burn mode. It does not keep it's shareholders up to date. It is majority owned by Seven and you would have to assume that Seven are just going to let it drift until they eventually take it over at 1c per share.

Freshtel, FRE has maybe about $8.5M left of cash and a questionable business worth. Loses about $7M per year and has 181M shares on issue trading @ 22c. This shows a current market value of $40M. How is FRE worth more than ENG or MNF? Their main published potential asset is some possible deal with Tesco in the UK, given that Tesco is their largest shareholder I suspect that any deal that FRE do will benefit Tesco and disadvantage the other shareholders.

MNF has 52M shares with a current SP of 14.5c, market cap of $8M, MNF has 60,000 paying customers, is virtually cashflow positive and is growing at 100% PA.

Then you have all the ISP's who have a VOIP client base, their figures are not so easy to report on.

Recent VOIP reports estimate the retail/small business market at about 300,000 subscribers. MNF clearly has about 20% of the entire market. What incredible growth potential when the general public really start to take up VOIP in numbers.

Just in case you don't understand the benefits of VOIP, let me explain. The call quality is fine, you get a regular incoming phone number. I have a business with 6 VOIP lines and I pay about $150 PM, compared to being connected to Telstra at about $480PM. My home bill last month for 1 line was $80, Telstra would have been about $230. Whats not to love about VOIP?????

MNF is a definate takeover target or just simply a great investment. As a business they have nothing left to prove, all their forecasts have been accurate, they have not had to do any massive placements like FRE or ENG. It is a simple & profitable business run by good management who are engineers by trade not marketing/PR people on high salaries.