Ann: Becoming a substantial holder, page-32

Why is it that people keep on saying "yep, great that Q&A is growing, but Track is terrible and should never have been bought"?

Do people not realise that one of the main reasons Q&A is growing is because of the telco billing arrangements that came with Track. So the "terrible" acquisition is the actual thing facilitating the growth of the Q&A business. Track was (and still is) a platform. The value wasn't just about its earnings, but the growth in telco billing arrangements. It has earnings (which is great) but helped the growth as well, which is the more valuable thing.

The underlying Track business was always going to slow down as it had seen its good growth. They had also under-invested in the business, and after acquisition additional costs had been put into the business to help generate group growth.

So the growth you are seeing is BECAUSE of track just as much as the Q&A. And this growth has facilitated the influencer platform which leverages all the existing platform and infrastructure of the group.

I'm happy to sit back and wait for the market to reflect the value I believe is there. Am I annoyed I didn't sell at a huge profit previously and then buy back at 10c? Sure. But I never thought this was a short term trade, but a long term investment.

Cheers
Marv

DISCLOSURE: I hold plenty of CM8.