Ann: Acquisition of LIFX and Share Placement, page-127

The value of a company is dictated by its discounted future cashflow.

Its too early to tell if any or all IP of any start-up can easily translate into real earnings - e.g TTT and many others.

Another point is to give it time for LIFX to demonstrate that its recent surge in revenues (especially quarter before acquisition) can sustain post acquisition. Lighting sales growth as experienced by Beacon is under 10%.