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Ann: June Shareholder Newsletter, page-29

  1. 34,916 Posts.
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    if you look at the 4c for quarter 1 COG was greater than revenue

    Definitely shouldn't use 40% across the board although this is where it will equalise to in the future but quarter 1 COGs would generally mostly relate to future revenue, not same quarter revenue so pointless comparing COG to revenue in the same quarter.
 
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