Looks like the market is ascribing very little value to the...

Looks like the market is ascribing very little value to the trail book . Maybe that’s right and the buy thesis is wrong ?

If it’s going to decline, they need to sell the trail book now to another industry player. Otherwise they need to grow it again with a new business model, but the market is going to remain skeptical for a long time.

They also talk at the end of the latest submission of remediation for customers - I wonder what this is going to entail ? At the very least discounts to continue, especially if the customer has been on a free trial.

St Andrews is the wild card.