There are not many holders in IBN who could say it has been a good investment myself included.My reasoning for entering the stock some time ago was they were making a small profit and had a vision to increase sales. I also could see a large target market being 200,000 new properties built a year. Property in all sorts of cycles still moves and needs to be sold.i also saw new apartments/properties going up everywhere.With the right marketing a brand could be built around iBuyNew where people would associate with new property.The adding of Nyko and Indo pacific has added to scale so you would think they could market the company well and over time increase sales and in turn profit.Unfortunately each time via cashflow and sales it has appeared that the company was going in the right direction but then has frustrated holders. I have been wrong to this point. At this stage no use selling and I am hopeful we now have the right CEO who has been with the company for a few years.He also founded Nyko so has experience.One thing I did see in the annual report was that sales by Nyko went from $741k to $2,212k which is an increase of 198%. So the waiting game will continue for me.
IBN Price at posting:
0.2¢ Sentiment: None Disclosure: Held
