Ann: Completes Airloom and Ludus acquisition, page-3

This is actually a pretty good announcement - key takeaways.

- TNT has $10M cash post-completion, which is up significantly from the 4E a few weeks ago - probably a combination of generating cash and options being exercised

- Finalising DD on two additional acquisitions

- Targeting $100M this CALENDAR year, “December at latest” suggests one or both of the above acquisitions will get them to $100M

- They again highlight their intention to aggressively capture market share whilst delivering a profitable business, so despite being focused on market share they are obviously well aware of the fundamental business mantra; “nobody ever went broke making a profit”

As I said, I actually took quite a bit away from this announcement.

Thumbs up from me on this one.