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21:43
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Originally posted by LithiumHydride
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Looking at the financials, it would appear that the majority of the revenue were from eBook sales. I couldn't correlate the expenses associated with it, but the most likely one would be "Publisher and bookseller fees expense". This equates to a margin of about 0%.
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I wrote to Readcloud and pointed them towards your commentary. I received a response and was given permission to share from it here:
Our prospectus states clearly that we make a commission on selling eBooks. The industry average (which you can confirm by calling any publisher) is about 30% commission of the RRP to the reseller although some product might be 10% or 40% commission depending on the publisher and the product.
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