Came to market on 10 December 2010 with the issue of 5,641,025 placing shares @ 120p to raise gross proceeds of 6.8 million.

Type of business
InternetQ is behind a proprietary technology platform that provides mobile marketing tools to its clients, namely network operators, media companies and brands. It is currently connected with 55 mobile network operators in 24 different countries, reaching over 573 million mobile subscribers. The group also provides digital content directly to mobile subscribers through its Akazoo platform, offering its members premium content within a social network environment and allowing them to interact and get rewarded for their loyalty and usage.

Company Profile
Internetq is an AIM listed trusted global leader in mobile marketing and digital entertainment solutions reaching more than 570 million subscribers via 55 mobile operators in 23 countries. By empowering brands to engage with consumers and transforming the way consumers interact with digital content, aiming for markets and opportunity and to exciting entertainment experiences. Their technology platforms support some of todays most recognized brands and enterprises, with innovative solutions to help manage interactive communications and push the frontiers in global mobile entertainment. With offices in Athens, Limassol, Istanbul, and Warsaw, we are growing the global footprint with the aim of becoming the leading source of mobile engagement.

Company balance sheet
InternetQ is currently cash flow positive and in the first half of 2010 generated Ebitda of 2.6m, from revenues of 18m. Since 30 June 2010, the group has continued to trade profitably, generating revenues of approximately 12.6m for the four months to 31 October 2010.

What the company will do with the cash raised
The proceeds of todays fundraising will be used to expand its network technology equipment and enhance Mobi Dialogue, its mobile marketing interactive platform. Cash has also been earmarked to further develop Akazoo, the online entertainment content platform, as well as set up new offices in key markets that require a more permanent presence.

Business relations
InternetQs long-term business relations include telecommunications operators, media companies and brands around the world, including Vodafone, Orange, Vimpel, Turkcell, Oi, Wind, COSMOTE, and MTV Network. The proceeds of todays fundraising will be used to expand its network technology equipment and enhance Mobi Dialogue, its mobile marketing interactive platform. Cash has also been earmarked to further develop Akazoo, the online entertainment content platform, as well as set up new offices in key markets that require a more permanent presence.

Others
The admission to AIM gives it a market capitalisation of around 31m. The 6.8m placing was conducted by both the company and Jendens Securities, its broker, with Grant Thornton appointed nominated adviser. Based in Greece,Konstantinos Korletis, is the group chief executive

Profit forecast
Las Year InternetQ made pretax profits of 260.000 on revenues of 16.4M. Jendes Forecast profits will rise to 3.1M next year

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Not such a bargain today.