Quarterly, page-7

Negatives - I cannot research this company as deeply as I can some other companies (eg. I have some deeper techniques for more mature IT companies), so I'm a bit blind, basing my assumptions on historical reports and some general market factors.

So since I'm somewhat blind, I have to factor in the possibility of each scenario.

Possible negative:
- Sign-ups seemed to have slowed lately (though a lot of the faster historical growth was due to acquisition). So if it slowed somewhat more, it would be close to flatlining.

- They're not reliably cashflow positive yet.