From what I have read in the articles, I think coco is on the...

From what I have read in the articles, I think coco is on the right track about what the streaming business will look like, and it in its simplest form they are basically just a retailer with presto wholesaling the product.

QFX sells the presto service to their 120k customers (i think the actual number with streaming access is less) and pays presto for the access. So if QFX customers continue to pay $10 per month, the question is how much per service does QFX have to pay presto. If for example presto agreed to wholesale the service for $8 per month per customer, QFX would make a monthly gross profit of $2 per customer per month. It's not going to buy a fleet of yachts anytime soon, and may not cover all the overheads and distribution expenses, but certainly will do plenty to slow the cash bleed.

Not sure what the funding agreement is about, maybe presto will be paying a sum to QFX for ceasing to operate their own SVOD service.