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PennyWorld

11/02/16 4:00 PM

#2324 RE: PennyWorld #2323

I view the reduction in subsidies over the next few years as a good thing. It will mandate that senior management MUST focus on managing sales vs expenses to maximize profits. The business will need to start standing up on its own using Econ 101.

PennyWorld

11/03/16 7:09 PM

#2328 RE: PennyWorld #2323

See Part II near the end of the SEC filing.........

https://www.sec.gov/Archives/edgar/data/1316517/000106299316009531/form10q.htm