Patient, I have no argument for your post unfortunately. The future does look brighter than the past year and VIP's interest is another positive. Yes the management of this company are good at doing dirty deals but rubbish at basic management. As I said often before being so overstaffed then suddenly sacking 300 or 400 staff at once is one huge piece of evidence of thier abilities. This should be an easy company to run, sell products cheap but make a small margin over many sales. They are using other peoples money(investors) without having to pay back a loan, this makes it so easy for them and still they stuffed it up. Also the companies were already set up IBY just bought them then took a year to attempt to cut costs.
I still think this is a buy and undervalued, the customer base revenue is the most important aspect of E-commerce and we have this, the web sites are very professional and of high quality. The finacials are easily recoverable from here. Also we now have a new director from VIP, hopefully a shrewd Chinese businessman.
