Yes, my mistake, cashflow positive. Still, a reasonable result. Certainly better than cashflow negative.
I think, all things considered that the MNF story is a good story, they have met targets and continue to enjoy revenue growth. They do not appear to have put a foot wrong, I think any good news from them can be interpreted as a good result and one that is in line with their forecast expectations of a $10M+ revenue and profitibility for FY09.
The guys that run this company clearly deserve shareholder respect, they are empire builders and have exceed all their forecasts for the last 3 years and with only 52M shares available and nearly $1M cash in the bank they have not diluted any shareholders with the need to do constant cap raisings, give them a break, they will be ok.
In other words, they deserve the benefit of any doubt quite frankly. Have a look at their competitors, Engin & Freshtel, now anything they state can be looked at suspiciously, their financial track record and growth has been appalling.
MNF Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
