Ann: Beating Guidance - Quarterly Activity Report & Appendix 4C, page-34

Have you noticed that majority of the expenses are for advertising and that's why the revenues are growing. Another thing to note is that they are expanding in various countries for growth. Once they reach the required turnover they can stop spending on advertising and expansion. Revenues are recurring and expenses aren't. I wouldn't mind if that send 2-3 Million on one off expenses to increase recurring revenue by 1 Million.

Other thing about product review is that 4 out of 5 people who bought it liked it and are regular subscribers. It doesn't matter that 1 out of every five left and they refunded the initial amount. The main point is that the more people you reach to the more regular subscribers you will get and they are doing a good job so far.