A small consideration is we pump heaps into advertising but then...

A small consideration is we pump heaps into advertising but then Anaconda and sub retailers reap profits also. Maybe the larger retailers also need to pay a split? I’m a bit sick of us paying for everything and others getting the benefit, like Zoleo development JV, Certus R and D for Iridium, now we are saying we need to advertise for retailers too?

I watched the iridium presentation to launch the Exec and they paraded it like they own it which they effectively do yet they didn’t fund any of the development as far as I know, it’s a flagship product for them, we may recover r and d spend after 3 years and they flog it off at margin and get plenty of subscription revenue. According to PAC report margin may be 30-40% yet normal retail margin is 25% plus also says so why are we spending millions on R and D when we could just become an online retailer of electronics?

I agree with Chuxa, we need to see cash flow. R and D which was told a year ago would moderate needs tk moderate. The spend on Certus is high when you had Go! As a base. Should have just been a few new components really and it receives the new signal. The Go! Devices should also not run on Certus 100. Not a tech guru but is my lay man’s view.

In saying all that as I always say cap js low, pinching a decent weight and plenty upside on Certus despite above. In my estimation. Also Zoleo if Europe kicks on and Asia expands.