Outstanding 4th quarter results delivered by Ibuynew! $31.8 million in total transaction values up 98%, 55 sales
in the quarter up 67%, $1.27 million in commissions up 55%, $0.99 million in exchange and settlement up 7%. Compared to whats happened in the past with this company the last quarter was an outstanding result in percentage
terms. It looks to me that Ibuynew is now getting real traction. Opportunity for outperformance is real here IMHO.
The pipeline of developments for sale is exceptionally strong, right around the country. My concern here was
can these guys sell? And the answer based on these results is yes they can. They need to work on getting themselves
a bricks and mortar real estate agency probably in Melbourne or Sydney and they need to work on achieving even
higher sales and commissions going forward. In any event, this was a was a fantastic quarterly from my perspective
the achievements made simply a great foundation to what can eventuate with this stock, I reckon sooner rather than
later.
Based on these results I don't think the cheap prices this stock trades at will last long. Have exceptionally high hopes
here, looking at a 10-12 bagger to take us to about 3.6cents and still the market cap would be only a measley $60
million.
A clear buy for me!
IBN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held