Ann: Trading Halt, page-187

Good post Robbie. Always nice to dream a little. I still think it will be no more than about US$2.50 per subscriber in Brazil. However with a strengthening USD against the AUD, this will help our valuation. Not sure if you took this into account. Also seems you're just using revenue in your calculation without taking into account costs incurred. However with a million subscribers predicted from Brazil in the first 12 months, Indo going live soon, and other regions to launch probably in the second half of this year, it's not unreasonable to envisage this scenario playing out within 18 months.