Tucows 2014 Annual Report Download - page 40

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Ting services may not prove to be successful or profitable in the long term. Ting’s long-term success is
dependent upon its sustained ability to generate sufficient revenue from its subscribers based on their use of its services
and its ability to respond to churn by adding new customers. If Ting is unable to sustain or increase the revenue that it
generates from its existing customers or obtain new customers to replace churned customers, our operational performance
and financial results may be adversely affected.
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