Dating sites are NOT listing material

You are all being taken for a ride. 5 or 6 directors pulling 608K salaries, last annual report has income up 80%, losses increasing by 50%. Why would you buy into this?

Off the shelf Dating site software can be bought for $500. Then you host it for $20 per month, and away you go. There are more dating sites on the net than you can poke a stick at. Its been done to death, and a lot of them are free.

If you think you are going to make money here, look into the POF site. Markus Frind, the ex owner, coded that website himself, as a one man operation. If you cant code, then you pay a programmer 100K for one year to code something up for you. You pay a few staff to work part time to do the admin. Thats all it takes to run a dating site. Yeah intitially you have to pay for some marketing, but the nature of it is that it grows organically and you dont need i after a while.

And heres the kicker, its 100% free. Markus made most of his revenue from site ads. And POF is in China, Hong Kong, all through Asia, since 2000. what makes you think people are going to pay money to use LVEs site?

This is a lifestyle company if ever I saw one, one of the directors is claiming almost 300K salary a year! For what? You are being done like a dinner. I would touch this stock with a 40 ft barge pole. Whats next, a toilet cleaning business on the ASX? Businesses like this, that only need 100K -200K to start up, should not be listing on the stock market. You have been warned.