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Migme needs funds to stay afloat

Digital media company migme has been forced to extend its suspension on the ASX to complete a planned capital raising, which it said would be essential for the business to remain viable.

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Perth
Call me old fashioned, but I believe in Richard Pratt's first rule of business (he had 4 rules of business), which is/was: Revenue must exceed Expenditure. Yes, sure, in this article, we are talking about a "technology start-up" business (philosophical question: how do you define a "business"?), so Pratt's business rule number 1 may not apply for the first x number of years. But what should x be? 2 years? 3 years? 5 years? Just as comparisons: Apple Inc., Google and Microsoft were profitable almost from day 0.

Sydney Australia
How do you monitise a community that has no disposable income.

India
migme is low class social network based in east Asia and middle eastern, just few south African and east euro. the population full of low class and uneducated people who comes in mig to abuse and slang each other religions. in migme they support and protect someone who bully, insult and being racist to the users. official, celebrity and verified id on migme are own by normal migme user with migme staff trust. if we complaints against migme on their miniblog, they will inactive the id. i'm pretty sure currently the active user on migme are not more than 15k, which is decreasing day by day. Very soon migme is going to close.

Migme has over 48million acitve users and 300 million usrs all together. Mr Goh is an increadible entrepreneur and will do his best to make Migme the facebook of Asia. All in my opinion

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migme (MIG)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Share Transactions

21/12/16
$5k Bought
13/01/16
$0 Issued
13/01/16
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

71st↑migme$21.5m
80th↑Threat Protect Australia$12.9m
81st↓Aspermont$11.7m
83rd↓CVCheck$10.5m
84th-Global Health$10.3m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from migme

25thSteven Goh$1.351m
430thStephen Llanwarne$285k
Ranked by total remuneration from all listed WA companies

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