Ann: Appendix 4C - quarterly, page-33

A numbers man eh.

So let me get this in percentage terms I'm up 17% on this stock for this year on two trades. Now the Sophs are bailing at 1.1 and got in at 1. So am I doing better than the sophs? I don't know mathy mathy.

Also does an increase in real revenue equal an increase in real spending. I mean if retention rates are increasing and spending remains constant then how does the curve flatten? Or are retention rates lower shrinking margins and ultimately leading to a fall in revenue. How far off is that and what will that do to the floor of the SP?