Hi Guys,This has been a long standing issue with JMB - no...

Hi Guys,

This has been a long standing issue with JMB - no liquidity and no enthusiasm with the SP despite good metrics.

As I've said before, I hold a truckload and have been caught waiting and waiting while SP slowly drifts lower.

Fundamentals are good re cash/ market share/ new applications/ macro technology developments/ number of global mobile users/ improving billing technology allowing new revenue models/ telco client list/ global penetration/ maiden dividend/ competent management and board/ expanding into new geographic areas/ high margin/ low cap ex costs/ new products/ recent acquisitions in Plutolife and Oztion...

ST downsides are:

- Founder has recently resigned as CEO
- Convergence of mobile and internet creates both opportunities and threats for JMB
- 1/2 of revenues earned in USD and thus USD capitulation could hurt FY10 earnings in AUD.
- Major shareholder just sold out (Acorn) but to a Director Tony Kiing.

I have a LT view to buy more JMB but getting the sequence right in this market is vitally important - otherwise you can sit on a share watching everything else go north on ST catalysts while JMB does nothing.

JMB have interesting start up internet advertising/ auction model that looks really promising in Oztion and Car Buddy. Lots of scope to grow this as the #2 competitor to E-Bay and Carsales respectively and then add further categories such as property, jobs, travel, dating, etc.

JMB was once a market darling and now an unloved little consistent performer.

Cheers
john