esn & mkb - a comparative analysis, page-222

Hi All,

There is a bit too much bickering on ESN which I am sure that most readers/posters will agree on.

I bought into ESN because I like its product and business model and because I think that it offers a lot of potential upside but in the end it will come down to the results which are not far away and will give everyone a bit more idea on where the company is at the moment and where it is likely to go.

In relation to the talk about this Eminerva and all the hints going back and forth, I have no idea about any of it and can only assume that there is some bad blood from a long time ago. I only invested a few months ago and this Eminerva didn't and won't affect my investment decision into this company.

Finally, in relation to the ESN-MKB comparison - I am comparing them as they are the closest comparables in terms of one targeting Colleges and the other Primary Schools. Yes, MKB is more advanced and further down the road and starting to make good revenues but it is capped at $150M versus ESN's $9M.

That's all from me for now - BM signing off.

Cheers.