This is what you call great analysis, page-155

RE cancellation rate. Looking as a whole they have 120 days to replace a customer that does not choose to go ahead. Based on the amount of new video shoots they would be doing and new businesses they contact they will never have a 'cancelled' customer due to the time they have to replace it. Really clever from an accurate reporting point of view however this 'trickery' is one of the reasons so many questions are now being asked. Not saying it's a bad thing however new products / ideas / way to report stuff not always well received by the public investors.