Ann: Ensogo delivers record quarter, page-16

Some really good stuff that’s come through in this quarterly, can’t say I’m surprised because they have been hinting away, but the stuff that really stands out (and is most critical in my view) is:

• Highest ever sales figure and a major increase over the previous quarter
• Annual sales for the year (at least based on a cash perspective) has blown the pro forma estimates following the investment in living social out of the water!!
• Reduction in back office costs
• The margins look like they will need to improve but they will, like any start up sales growth and customer growth is critical, get them in, get people talking about ensogo and then you start to play with the margins, so not a big concern right now
• Even at current margins if we see the same level of sales growth in the next quarter as we did this quarter we will likely have a cash positive quarter!!! May sound ambitious, but not impossible., given it’s in the Asian market the 1st quarter of the calendar year is also a strong one for consumer spending.

All in all, new management looks as if they know what their doing and needs to be done going fwd. It sounds like they have been busting their ass off too in the last half a year or so. Appreciated.
Now lets just hope all the significant holders show the patience and give them the chance they deserve.