Ann: Norwood Expands World Phone into Android Handset Market, page-32

I agree with @TonyIndo I'm afraid @stevenjd

I've worked on a few takeovers in the mobile economy and you won't get a meaningful takeover result unless you have (a) IP and (b) market share.

Only an acquirer can decide whether the IP is good for them, but in terms of market share a minimum of 20 million active daily users would ensure the company is on the big boys radar.

This is because (a) the acquisition cost includes a meaningful number of customers, (b) the product is proven to work at scale, and (c) the ARPU is higher than their current ARPU for their existing product.

World Phone is a long way from being proven to work cross platform at scale. When the numbers get high then their needs to be time to prove that ARPU is growing with repeat customers. This points to Long Term Value (LTV), and LTV is the most critical customer metric in mobile.

PS... management has performance shares tied up and would prefer to have these in play if a takeover comes a-knocking