Tucows 2011 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2011 Tucows annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 27

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27

77!"
!6
*'%##$) ))(' )) .('# &!1(&1 %'#( % )#*(&''&&&##*5%%$#(%+6*/ . ).('# &1 1 &&#*##*)  9(%+%(%% $(%&7
)9* $'%#"&3(%+&.('# &7/'#.) #$ ) %"%.%#(#*(&''&& &."&'#.%.8()(.6*%$/ ).('# &)(!.1&%# + 3%(%+
(%&#$%#&%.&#( %. 1#./" / . ).('# &(&%(%6 !(&'%% #/3 #.) +#%$/ )1& %&#*%#*%$/ )% $(%&%$.(%#*(&1 !"&##$%#6
'* )#*% $(%&*&' %&%#.# &3()'#.6)%" )#*$/' $&%3(/# &3&.('# 7#*/ . ).('# &$".&(+%#&/&#(##% $(%6%#*#'&7
#*1& %&%$.&1 !(&9(3 #) #*&/&#(##% $(%.&(+%#./"#*/ . ).('# &6%&&" 9(#** .#* (#"# 3 #) #*&1& %&7" 1 !"9(/3 #.
#*'#( % )#*%(%% $(%&6
%$'%8'$#'%&%8'%:
6#%7;7*&/%%+(%+('# %.. )%3&#$%#F%0(%+7'*% +"%.(%%'(%&#(##( %&79(#*11%*($N 6%'67%(%3&#$%#/%0(%+)($7&(%'1(
56 $/"55# '*576#%&3.&%+(%+('# %.. )%3&#$%#9(#*66%#/+7 9/(%7%(%3&#$%#/%0(%+)($6 $B%"5#
/"5576#%&3.&%+(%+('#  )J%#&.3(& "%'6%.&$$/ )#*F . )('# &%.#*(%3&#$%#' $$(## )J%#&73%#
'1(#' $1%") '&(%+ %#**(+*#'*% +"$0#6
6#%*&!#%&(3!1(%'9(#*#'*%  +"/&.' $1%(&(%#*' %#!# )*(&(%3&#$%#/%0(%+!1(%'%.*&%(%.1#*0% 9.+ )#*' $1%"C&/&(%&&&##+"
%.$%+$%##$7 )9*('*8()"*($# /.('#  )' 9&6
6($7;-7(& )&&&(%',,;%.1&#*(,,H5 )#*1#$%# ) $1#'(%'##*%(3&(#" )  %# 79**& ' .('#&#*"%$('
?1*('& @'#6(&#*(%+.('#  )#*1#$%#C&%91 )&&( %$&#C&1 +$$6
6($*&*.$%".3(& "/ .&(%/ #*#*1/('%.1(3#&'# &6'%#"9 0&9(#*3%#'1(#' $1%(&%.& %..((+%'7&##+"%.*$%
& '&6
6($*&%!#%&(3%.3 3(%+0% 9.+ )' $1#&'(%'(%#*' %#!# )*(&!1(%'&)&& ##*%(3&(#" ) %# 6%..(#( %7**& #*3/
!1(%'9(#*#'*%  +"' $1%(&+%"#*#7(%..(#( %# #* #*##(/#&(&#./ 378()"*($# /.('#  )' 9&6
6?(&&(%7;57*&&3.&(%'5;&#**()!'#(3))(' )F#.67%(%3&#$%#' $1%") '&(%+ %(%)&#'#.3 1$%#1 @'#&(%*(%6 $B"5#
'*5;76?(&&(%*&&3.&#**()!'#(3))(' )%##9 0&#.67%&(&#(#' $$%('#( % 1# 13(.(%+%#%#/'0/ %' %%'#(3(#"%.
& #( %&# %#%#3(' 3(.&6 $B",,;# B"576?(&&(%9&J('&(.%#7F&(%&&3 1$%#) ' $ $$%('#( %&#.67* .(%+' $1%"#*#' %# &
&3#' $$%('#( %&&3('&78(1$%#%.%#%#' $1%(&(%&66?(&&(%(&& .('#  )#% $$%('#( %&#.62
;
&%)%' *($% )#*F . )('# &&(%'+&#5
-%%6-(% ('# &(%'B%5;
'%D ('# &(%'+&#5
"'(()))%!$( $(% (((*+
!*
(*('*,-