HotCopper Syntonic SYT percentage owned, page-134

By the way LOTM if you really believe that FW and DF are "proof of the business model" then I believe you are dead wrong IMO.

What I believe is that they are proof of concept for third parties and revenue from the apps is a bonus. In addition they are to facilitate telco and content, non-aligned platforms and providers to beat NN and other regulatory issues. We will mostly white label and skin these apps in time.

I would rather do 100 Tata, Verizon and ATT deals world wide than try to rollout the apps world wide. We would never have access to sufficient content or the marketing budget to cover too many jurisdictions. Being aligned with enough telcos who have access to the content providers and locking in content through use of the SDK and CSP in each jurisdiction is the key.

We can't as a company be opposed to the carriers and it seems to me we have always tried to be aligned with the carrier which is the right way to roll out fast. They make money and we do too.

I think some here are still struggling to get it but feel free to do numbers on the apps as it is an interesting excercise.

But hey I could be wrong as it's just my opinion.