Observations on the annual report, page-10

Spot on ZMan. The original analysis is exactly the sort of post that makes these forums useful (to the extent to which they are useful). The post was detailed and referenced what it was commenting upon - everyone is then free to use it to augment their understanding of the company.

Personally, I do not care whether there is an agenda behind the post or not. That said, I'm willing to give Southbank Steve the benefit of the doubt and assume that he's just a punter who is willing to share the benefit of his detailed analysis - which is really the purpose of these forums.

The question I'm dying to see answered is: how many customers have signed up for services and have committed to pay for them? I was never a believer in the business for the basic reason that if there really is a market there, I would expect to see more providers in it given that there are no real barriers to entry. However, I've been wrong about stuff before and will, no doubt, be wrong again. That is why I'm watching developments. In the interim, I'm grateful for all of the detailed comments on the forum.