Fair comment. It does appear that profit is flowing out to repay Symbio extended credit terms.
Please consider this though:
- MNF has only been operating for 3 years - They have avoided massive cap raises, etc - On present financials the company is now profitable & self funding - The extended Symbio terms were like a loan to MNF saving shareholders from any further dilution by MNF having to raise capital.
I am not sure how long you expect a public company to become profitable and self funding but in my books MNF has acheieved this in a relatively short time and shareholders have benefited from Symbio throwing out extended credit terms to MNF.
The 2 directors you mention own about 47% of MNF and Symbio owns about 4% from memory. Not 65% as you falsely state.
MNF has about 74,000 cutomers and the growth rate has been sustained. Put simply, they are A1 marketers and frankly have built a better mouse trap. There is no reason to assume growth will falter.
May I remind you that you have been predicting MNF growth collapse & company demise for over a year now and in this time MNF has continued to grow and has achieved many significant financial milestones.
Perhaps it is time for you to stop running this company down when they are doing so well and perhaps you could provide some facts to back up your purile negative posts.
MNF Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
