I think we'll be in a position to form a view on that when they...

I think we'll be in a position to form a view on that when they report. Whilst technically correct, these lofty earning comparisons to pcp are a phurphy, misleading and an insult to shareholders intelligence. The fact that they're paying an exorbitant interest rate on a heavy debt load is a red flag in itself. I accept that as long as the business is throwing off plenty of fcf it can service and potentially reduce its debt load. But if that were the case, why do they appear to be having difficulty restructuring their debt on more favourable terms in the prevailing low interest rate environment? Seems to me that prospective lenders may not be as convinced about the sustainability of the business model and therefore it's future earnings potential. Management have been vocal about new apps but relatively silent on the critical issues that really matter to investor's like me. I don't expect them to be updating shareholder every month, but when the sp is taking a bath, it would be prudent to provide shareholders with some form of reassurance. The alternative can only lead to uncertainty which the market loathes. Personally, I've lost confidence in the leadership and management of this business. That said, it could be a case of under promising and over delivering. We'll soon find out. In the meantime, it's more of a punt than an investment for me. As I said in a previous post, the easy money has already been made. For me it's a free carry and no more than I'd be willing to bet on red or black at the casino. To those who've bet the farm on it, I wish you luck and hope the risk reward equation works out the way you'd like.