Ann: Quarterly Activities Report and 4C, page-24

I agree with @bakerrr. The 11% growth in ARPU is a great number. I stopped hoping that next Qtr would be the big breakout a while back. Its like going on a weight loss program and basing your expectations on what you're going to weigh next week. I keep a running valuation model on this company and these numbers have resulted in significant uplift in the valuation estimate. All the cost reduction work is now fully baked in and you can set your watch to the revenue growth. If Mr Market doesn't like this report because of the cap raise implications...meh. The only thing that is going to really significantly change the dial in the short term is some external shock. In the meantime I am happy to hold onto this stock and watch the long term value accumulate.