HC12,I applaud companies like FRE for going global, I agree it...

HC12,

I applaud companies like FRE for going global, I agree it is a smart move that has the potential to make huge sums of money simply because of access to larger populations. However, I would hazard a guess and say that FRE spent many times the amount it received from it's largest shareholder Tesco for this converged whatever it is platform.

Seems as though FRE managed to delelop an app that only runs on about 4 Nokia mobiles and uses Wifi & 3G signal, already proven to be limited range and poor quality perfromance.

I would believe that they were probably blinded by "Tesco Vision" to the point that they did not stop to think of the deal as a whole and jus burned thru FRE shareholders funds in order to please their largest shareholder, Tesco.

If the recent Tesco rollout of FRE technology in the UK was going to be a finacial advantage to FRE then why can they not tell FRE shareholders about it? What's the big deal anyway, VOIP customers do not use this technology enmasse, they have had access to these sorts of apps on their phones for a few years now.

Some have suggested that FRE will receive a royalty income from Tesco customers phone bills, speculation is up to as much as 30%. If I was FRE and this was the case then trust me, I would not even bother with any other announcements, I would just push that for all it was worth. So far I have been deafened by their silence on this issue.

The simple truth is likely to be that FRE wasted $3M-$8M writing a Nokia Symbian phone app that you can get for free anyway from lots of other companies such as Fring & Nimbuzz and then sold Tesco the right to sell it in the UK for probably $1M, just guessing on that as the smart operators at FRE won't reveal to it's shareholders the nature of it's financial relationship is with Tesco.

Why won't FRE reveal the details of the Tesco deal?Simple, Tesco is their largest shareholder & the deal was probably laughable and FRE likely sold their interests in it for a song, which on the face of it is about all it is worth. As if Tesco would be paying a royalty income to FRE for such a simple app, please.......