Reporting Trampoline, page-8

VOC is now ahead of AMM in terms of financials, and growing much faster too.

In hindsight the merger of equals may have been expensive for VOC shareholders.

The combined entity will have a lower growth rate and lower quality earnings, unless Spencely can leverage the assets to the hilt. Whether he is successful or not in doing so will not be known until at least 2017 or 2018.