Patience required, page-62

Spent Sunday going through the previous financial reports. Also looked into the new CEO. The recent demise of the share price I cannot see an substancial reason in the statements provided for such a sell down. IBUY is progressing well as the leading flash sales, e-commerce site in south east asia. This is a position they already hold but it is important to achieve market dominance in their niche area.

New CEO bio page, Kris is an excellent replacement as CEO, he is the cofounder of IBUY with the former CEO Patrick Lindon who is still the CEO of Dealguru an IBY company. 'CEO, Patrick Linden, who will leave the company to pursue new opportunities. '
Kris Marszalek

bio;

http://www.linkedin.com/profile/vie...me&authToken=8_QE&trk=prof-sb-browse_map-name

The loss reported on the latest half yearly satement was to be expected by reading the previous quarterly statement. I could not find the staff numbers, I would asume they are increasing due to the large increase in admin costs. IBUY has positioned itself well with no dept and cash in the bank, there is no reason to panic IBUY is an illiquid stock which does pose risks. A large holder looks to be wanting to reduce exposure and is selling on market in illiquid conditions. With the current state of pesimism on the Australian market and general will to sell down unprofitable internet stocks it is bad timing and shortsighted.

Below is the capital history of IBUY with projected profit of $4.2million in 2015 and $8.5million in 2016. This comes from a very conservative and well respected stock selecting platform. If this comes to fruition we will be riding a gravy train with no dept and plenty of cash to throw at us in terms of dividends. Even if we halve the fiqures projected it still looks very enticing. ROE to rise from 4.53% to 8.48% I welcome corrections, comments or additions from those that have studied the industry or IBUY company.