There are always plenty of risks in the small spec space and IBN is no different. Real Estate is a difficult
business, theres heaps of competition, agents all over the place, making money is difficult, IBN also
has a lot of shares on issue, I don't think anyone is ramping the stock, simply we as shareholders have pointed out some of the strengths of the business. For me one of the biggest and most underated parts
of the business is the huge listings database that the company has developed. As I said before a lot of
agents spend massive time trying to get just a few listings a month, Ibuynew has a huge listings base,
its last quarter was good improvement on the same time last year and the company is looking at opening
a bricks and mortar operation. Add the recent cost cutting campaign which will see about $700,000 come
of annual costs and I reckon management is doing ok here. Ive only been here a very short time as
a shareholder but I have high hopes for this one. Hope you don't see that as ramping Jordy! Good luck
to everyone holding.
IBN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
