Ann: Linius enters US college sports market, page-20

This is great news but not convincing from an investment viewpoint. The process is being repeated and LNU is really developing with a sound business model thanks to JB and co.

Unfortunately, historical performance paired with this stage of the business, being minor revenue growth comparatively, will see most investors hold off now until they reliably report at least $1.5-2mil ARR. Until then all invested money will see at least 20% dilution due to further progressive CR's.

Mid 2024 will hopefully be close to a point where they can meet this performance band. Any sooner would be welcomed.