It continues to blow my mind that "investors" do not do any homework.
1. Subscription - Do you know what that actually is? or where that money is coming from? RS's "subscription" is for the online games and online tutors. When the customer buys the program they get a set amount of time to use play these games and get online tutors. IMPORTANT: the amount of "free" use of these is based on how many levels they purchase. If they get 5 levels they get 15 FIFTEEN months free. For one level I believe it's 3 mths or so. This is important because the "subscription" income seen ONLY IF and WHEN the customer reaches the end of that set time AND DECIDES to continue it, i.e., paying to renew.
IMPORTANT: The customer MUST have high-speed Internet connection to play games and have the online tutor. If they dont, or, if they choose not to take advantage of those online services.... there will be ZERO subscription income
IMPORTANT: RS has never said (of course) how many users are actually using the online services. I bet very few.
IMPORTANT: V4 totale has up to recently been only available in the US and JUST available in Japan.
Where is alll this income going to come from?
On a side note, they ARE testing true subscriptions (3 and 6 mth) ONLY for those language with 5 levels but not US/UK English. This has only recently began, and not available at the kiosks. They had these in the past but eliminated them btw.
And for the final point. it is international where all the true competition really is.
RS cant even get their US market halfway right, what makes you think they can do it international. RS has been a true company for at least 10 years yet still cannot get their s--- together.