Ann: Trading Update, page-11

According to the Xenith FY17 presentation (page 23)
The 3 listed guys represent 61% of patent applications and 37% of trademark.
IPH just did a purchase at 7.5x EBITDA. Doubt an acquisition would be on the cards.


USD sensitivity is extreme. Could be 5c either way based on flapping of butterfly wings, so +/- 2.5 mill EBITDA.

The lowest was the open and that was triggered on only 20,000 or so shares. Not happy with the update but it was small volume that tanked the price and I believe it was overdone.