Ann: Cleansing Notice and Shares Coming Out of Escrow, page-22

im surprised that you suggest there is no organic growth without seeing the full financials of each company prior to acquisition. considering the seasonality. if they have a repeat of q4 this q4 and q2 and q3 are the same as q1 they will achieve that average revenue number. so assuming they expect q4 to at the very least bethe same numbers it actually does seem as though there is organic growth.

realistically though unless we see quarter breakdowns from the acquisitions we wont know and now that tnt has rebranded i dont think its really relevant anymore, theyre clearly generating a large amount of revenue and its growing. the test now will be seeing qoq growth for tnt as a whole which im far more interested in.

these acquisition companies have gone through substantial change and are now settled under the tnt brand. ill start to have concerns if q2 revenue decreases.