Ann: Appendix 4C - quarterly, page-2

Looks like this stock is a much slower burn than some holders were hoping for (me included somewhat), but I am impressed by their growing footprint, the big names signing on as customers/partners, their recognition of costs as a factor in their longevity, and the quality of their communications to customers.

The space is of course dominated by Google and Amazon, but that is a problem for many advertisers and clients. Nobody likes a non competitive duopoly. Governments even less so.

The risk of legislation limiting the scope of Goomazon or Amazoogle, whatever you want to call them, is real. Nobody knows about the timing for that, or at what point ADJ might gain some real traction. So, if you like the story (I do) then don't sweat the gyrations of price on small volume. A lack of sell side liquidity is your friend when this stock takes off.

All IMO

GLTAH