It also looks like they are including flow-through ad revenue (perhaps Google adwords/ web banners) as revenue, then Expensing it out as COGS.
So operating revenue is probably more like 6-7m and the other 6-7m is ad campaign spend if this hypothesis is correct.
Ann: Preliminary Final Report - Appendix 4E , page-4
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
