Ann: Acquisition of LIFX and Share Placement, page-86

Would you value a Jo-Blow supermarket [consumer ] that has an annual turnover of $100m but a profit of $0.5m at $120m (at 1.2 times sales)? No. Would you value a high tech stock (in similar mold like Facebook) with an annual turnover of $100m but a loss of $10m at $500m? Yes. See the difference? BUD in its original form was IoT tech, now more like much of its revenues coming from bulbs and lighting (yes, with some intelligence in it).