Ann: Full Year Results Presentation, page-15

"How much do you understand the current situation?"

Well, i guess i understand it well enough to not buy the stock at $0.395 just 13 months ago:

https://hotcopper.com.au/threads/real-value.3564669/?post_id=26064891#.W4cySuhKjb0

In fact, while you were apparently busy buying at near $0.40, three months prior to that i was making my concerns about the affiliation agreement renewal known:

https://hotcopper.com.au/threads/bulls-vs-bears.3351732/page-11?post_id=24236814#.W4czLuhKjb0

So, i suppose i somewhat understand it...?

What i'm very willing to admit i don't understand is in what alternate universe advertising revenue should be expected to show sustainable growth, while viewership is in secular decline. That, i must admit, is something i don't understand - in my limited understanding of the world:

- The goal of advertisers is to reach as many eyeballs as possible; the more eyeballs they reach, the more they'll pay, and the less they reach, the less they'll pay
- Eyeballs are, as a matter of fact, spending progressively less time looking at FTA TV
- Given eyeballs are spending progressively less time looking at FTA TV, advertising revenue should be expected to decline