movement, page-51

If that Priority One reward is only for Spicers Paper's customers, P1 cannot use Priority One as their reward card name in Australia as it is trademarked by Spicers Paper.
Even the domain name Priority-One.com.au is pointing to Spicers Paper.

In that case can I assume that they don't really have a reward card business in Australia at all? I am confused.

Let's just say Priority One Reward will be an entirely new business start up only in China but not Australia.

With the current Smart Club reward card in Shanghai having net revenue of US2million with membership base of 3 million after operating for 8 years in Shanghai, why would I think that P1 can generate $273m revenue as a new entrance to the China market?

btw, Angry, while I am not an accountant, I can say that I know more aboout internet businesses than a lot of accountants.