I think addressable market means the total number of Freeway...

I think addressable market means the total number of Freeway subscribers, not just the market size.
The size of the market is definitely much larger than 100 million. You can easily google the total number of mobile phone users in SE Asia and Latin America.
Not sure whether you are familiar to this industry or not, but number of subscribers means $$.

They have other business if you read the prospectus and presentations carefully.
The revenue model of Syntonic is very robust and flexible.
Only those who did the research thoroughly will hold it till the top.
I will be watching Syntonic's growth at least one year.

Good luck to all LT holders.