IPOing today, looks good, page-63

New sales = revenue = Profit Improvement

Once the number of seats they sell reaches 25,000 per annum they should be in profit , then its all blue sky

KNO make revenue based on how many terminals / laptops need a license , and they call this seats

The aim to get $30 per seat per month

At present I estimate they are around 50% of that short term target , with ANZ still making up about 10,000 of the seats.

Unfortunately ANZ pay far less than the retail rate of $30 per month , because they were the initial client , and they have so many seats.