Ann: Growth in Quarter as Streaming Competition Increases, page-32

Well to be fair it's pretty hard for him to back up the claim it's undervalued, in light if the fact this company has always been a money loser, has no advantage over it's much larger competitors, inferior content and relatively few subscribers given how long it's been in the game (we'll know for sure in a few months but I'd be very surprised if it wasn't already a distant fourth place in terms of subscriber numbers, since Presto has it's Foxtel base to leverage, Stan claimed to have more than 100,000 a month and a half ago and that almost everyone I know - people who've never even heard of QFX - have signed up for Netflix). If I was a ramper Id go quiet when asked to place a value on QFX too