It never ceases to amaze me how investors let there emotions get the better of them. How can one make a sound, rational, reasoned decision if they are compromised? Let alone give advice to others.
I'll be the first to admit that I wasn't around when Jumbuck comprised of chat room platforms for mobile phones, however I can't fault them. They had begun to establish revenues however intense competition in the consumer social scene started eating away at the profitability. So jmb has done what any quality organisation should.... EVOLVE!
Tom Kiing, has vended in a niche social media site for professionals. He has put in $1.2million of his own money and he's managed to poach Melbourne IT's digital brand services head, Martin Burke, to lead it.
He's found a niche market, realised that the current way of doing things is full of inefficiency, and he's putting his money on the line.
He's managed to lure big names such as ex-Victorian premier Jeff Kennett and he's given shareholders a fair chance to increase their exposure to the new asset.
Now the company is capped at under $6mill, is cashed up, has a tight registry, and has a great idea in the hot sector.
You can not fault the execution thus far. If you want to wait for revenue be my guest... But you'll be paying North of 80c per share.
JMB Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
