"The latest downgrade was triggered by the collapse of a long term agreement with an unnamed third party to use the Garage Entertainment and Magic Seaweed content.
SurfStitch granted a perpetual licence to the third party late last year and in March entered into another agreement for the provision of various services, including access to software and hosting the SurfStitch online store, extending the terms of the perpetual licence agreement"
How could it be a long term agreement considering they only just acquired them? Unless it was a pre existing agreement in which case they have bought two businesses and lost possibly their biggest client and a lions share of those businesses income which looks like a pretty big mistake.
SRF Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
