Rebasing Expections, page-44

If they were so conservative why did they allow CC to model 5m units for fixed wireless broadband in the US when they have no idea what the take up rate would be? Only 1M of those units are subsidised by the FCC the other 4M units need to be paid for by the carrier. i.e. Built into the connection price. The take up rates on those connections will largely depend on the deals offered by the carrier. Not to say there won't be meaningful connections but to assume millions of connections in such a short period of time is past optimistic. I'd say that would be reason for some very angry fund managers which is why we are seeing all of this new selling since Friday last week. I think if you took capital at 2.80 you would be feeling a little short changed.