Don't know about immense, albeit it is a global play so it has...

Don't know about immense, albeit it is a global play so it has greater potential reach than most Aussie listings.

Getting a local SIM isn't that difficult (and often cheaper apart from say the US) unless doing a multi-country trip.

Also the biggest negative is you have to turn-off voice to switch to the FRX SIM (unless using a dual SIM) so corporate market generally just won't use it -- and it's those clients who would possibly be great high ARPU customers.

(That's why having local indials for many countries would be brilliant - Step 1. Just forward your Aussie SIM to a local DID with instructions shown in the App, Step 2 activate chip, then calls come thru FRX app - I do this with VOIP but it adds another step) (Although you still have the SMS issue)

Obviously the cost of this differs by market - but you can get an AU indials for under a$10/yr with some VoIP providers

Agree that we are unlikely to see a drop off in customers from this change until July/Aug.

Not sure how they have been doing accounting for the free data, but I'd expect if expensed that marketing expenses will drop substantially (and if people give up previously earned data that might be a reversal that drops to the bottom line).

So I'd be expecting to see a reduced loss, but hopefully some good customer numbers