I'm looking closely at some of the employee options and performance shares arrangements FZO have.
This proposal for issuing more options out to employees on meeting 100,000 paying users doesn't impress me that much.
My biggest concern with it is that it will include numbers from the Asian expansion. Tim in one of the recent infomercials with TSI said that they would be charging only $1 a month in Indonesia.
So it won't be 100,000 X $80 annually as mentioned above.
I think there will be a significant drop in the average annual subscription revenue per user as the Asian subscribers become an increasingly larger part of the pie.
I'm not against that necessarily (can only charge so much in poorer markets) but if they onboard a large number of users that are only bringing in say $12 a year then is that really deserving of issuing cheap options and further diluting the shares of current holders?
