This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.															Estimates	Estimates	Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.															Q1 2025	Estimates				https://www.annualreports.com/Company/BlackBerry-Ltd
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/				May 2025							Fiscal year change 2016
BlackBerry Ltd				TSX:	BB	NYSE	BB	https://www.blackberry.com/us/en/					Fiscal Yr:	Feb 28							Mar 1 to Feb 28
Year	03/03/12	03/02/13	03/01/14	02/28/15	02/29/16	02/28/17	02/28/18	02/28/19	02/29/20	02/28/21	02/28/22	02/28/23	02/28/24	02/28/25	02/28/26	02/28/27	02/28/28		Value	Description	#Y	Item	Total G	Currency
Accounting Rules	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP					Accounting Rules
Accounting Currency																						Accounting Currency
USD - CDN$	0.9896	1.0268	1.1092	1.2508	1.3407	1.3248	1.2851	1.326	1.3429	1.2685	1.2708	1.3612	1.3564	1.4438	1.3720	1.3720	1.3720					USD - CDN$
Split					7.19%	-1.19%	-3.00%	3.18%	1.27%	-5.54%	0.18%	7.11%	-0.35%	6.44%	-4.97%	0.00%	0.00%					Split
															$512.6	<-12 mths	-4.17%
Adjusted Revenue						$1,374	$967	$916	$1,099	$919									-100.00%	<-Total Growth	4	Adjusted Revenue
Deferred Software Revenue						$65	$35
Revenue US$*	$18,435	$11,073	$6,813	$3,335	$2,160	$1,309	$932	$904	$1,040	$893	$718	$656	$853	$534.9	$520	$565	$2,591		-83.96%	<-Total Growth	10	Revenue		US$
Increase	-7.39%	-39.93%	-38.47%	-51.05%	-35.23%	-39.40%	-28.80%	-3.00%	15.04%	-14.13%	-19.60%	-8.64%	30.03%	-37.29%	-2.84%	8.72%	8.72%		-16.72%	<-IRR #YR->	10	Revenue	-83.96%	US$
5 year Running Average	$14,074	$15,087	$14,236	$11,913	$8,363	$4,938	$2,910	$1,728	$1,269	$1,016	$897	$842	$832	$731	$656	$626	$626		-12.45%	<-IRR #YR->	5	Revenue	-48.57%	US$
Revenue per Share	$35.17	$21.13	$12.94	$6.31	$4.14	$2.47	$1.74	$1.65	$1.88	$1.58	$1.25	$1.13	$1.45	$0.90	$0.87	$0.95	$0.95		-24.35%	<-IRR #YR->	10	5 yr Running Average	-93.86%	US$
Increase	-7.45%	-39.93%	-38.75%	-51.26%	-34.28%	-40.46%	-29.63%	-4.89%	13.62%	-15.85%	-21.09%	-9.57%	28.47%	-38.03%	-2.84%	8.72%	8.72%		-10.45%	<-IRR #YR->	5	5 yr Running Average	-42.40%	US$
5 year Running Average	$26.04	$28.13	$26.81	$22.71	$15.94	$9.40	$5.52	$3.26	$2.38	$1.86	$1.62	$1.50	$1.46	$1.26	$1.12	$1.06	$1.06		-17.72%	<-IRR #YR->	10	Revenue per Share	-85.77%	US$
P/S (Price/Sales) Med	1.09	0.57	0.85	1.57	2.06	2.89	6.07	6.06	3.99	7.60	8.88	4.89	3.12	3.43	4.44	0.00	0.00		-13.72%	<-IRR #YR->	5	Revenue per Share	-52.19%	US$
P/S (Price/Sales) Close	0.42	0.68	0.62	1.42	1.95	3.14	6.62	5.32	2.71	6.91	5.51	3.40	1.92	4.89	4.11	3.78	4.13		-25.11%	<-IRR #YR->	10	5 yr Running Average	-94.45%	US$
*Revenue in M US $						P/S Med	20 yr	3.71	15 yr	3.12	10 yr	4.15	5 yr	4.89		-0.94%	Diff M/C		-11.92%	<-IRR #YR->	5	5 yr Running Average	-46.98%	US$
				-$3,335	$0	$0	$0	$0	$0	$0	$0	$0	$0	$535
									-$1,040	$0	$0	$0	$0	$535
				-$11,913	$0	$0	$0	$0	$0	$0	$0	$0	$0	$731
									-$1,269	$0	$0	$0	$0	$731
				-$6.31	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.90
									-$1.88	$0.00	$0.00	$0.00	$0.00	$0.90
				-$22.71	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.26
									-$2.38	$0.00	$0.00	$0.00	$0.00	$1.26
															$703	<-12 mths	31.48%
Adjusted Revenue						$1,820	$1,243	$1,215	$1,476	$1,166									-100.00%	<-Total Growth	4	Adjusted Revenue
Deferred Software Revenue						$86	$45
Revenue CDN$	$18,243	$11,369	$7,557	$4,171	$2,896	$1,734	$1,198	$1,199	$1,397	$1,133	$912	$893	$1,157	$534.9	$713	$775	$3,555		-87.18%	<-Total Growth	10	Revenue		CDN$
Increase	-6.22%	-37.68%	-33.53%	-44.80%	-30.58%	-40.12%	-30.93%	0.08%	16.51%	-18.89%	-19.45%	-2.14%	29.57%	-53.77%	33.30%	8.72%	358.58%		-18.57%	<-IRR #YR->	10	Revenue	-87.18%	CDN$
5 year Running Average	$14,722	$15,819	$14,479	$12,159	$8,847	$5,546	$3,511	$2,240	$1,685	$1,332	$1,168	$1,107	$1,098	$926	$842	$815	$1,347		-17.46%	<-IRR #YR->	5	Revenue	-61.70%	CDN$
Revenue per Share	$34.80	$21.69	$14.35	$7.89	$5.56	$3.27	$2.23	$2.19	$2.52	$2.00	$1.58	$1.53	$1.96	$0.90	$1.20	$1.30	$5.96		-22.70%	<-IRR #YR->	10	5 yr Running Average	-92.38%	CDN$
Increase	-6.27%	-37.68%	-33.83%	-45.04%	-29.56%	-41.17%	-31.74%	-1.86%	15.07%	-20.51%	-20.95%	-3.13%	28.02%	-54.31%	33.30%	8.72%	358.58%		-11.28%	<-IRR #YR->	5	5 yr Running Average	-45.03%	CDN$
5 year Running Average	$27.18	$29.42	$27.26	$23.17	$16.86	$10.55	$6.66	$4.23	$3.15	$2.44	$2.11	$1.97	$1.92	$1.60	$1.43	$1.38	$2.26		-19.54%	<-IRR #YR->	10	Revenue per Share	-88.63%	CDN$
P/S (Price/Sales) Med	1.14	0.55	0.63	1.45	1.98	2.86	5.94	6.03	3.96	8.89	8.55	4.61	3.17	6.41	4.55	0.00	0.00		-18.66%	<-IRR #YR->	5	Revenue per Share	-64.40%	CDN$
P/S (Price/Sales) Close	0.39	0.63	0.77	1.72	1.86	2.82	6.96	5.32	2.69	6.88	5.46	3.42	1.94	7.09	4.13	3.80	0.83		-23.47%	<-IRR #YR->	10	5 yr Running Average	-93.11%	CDN$
*Revenue in M CDN $						P/S Med	20 yr	3.92	15 yr	3.17	10 yr	4.37	5 yr	5.46		-5.48%	Diff M/C		-12.73%	<-IRR #YR->	5	5 yr Running Average	-49.38%	CDN$
				-$4,171	$0	$0	$0	$0	$0	$0	$0	$0	$0	$535
									-$1,397	$0	$0	$0	$0	$535
				-$12,159	$0	$0	$0	$0	$0	$0	$0	$0	$0	$926
									-$1,685	$0	$0	$0	$0	$926
				-$7.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.9
									-$2.5	$0.0	$0.0	$0.0	$0.0	$0.9
				-$23.17	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.60
									-$3.15	$0.00	$0.00	$0.00	$0.00	$1.60
															$39.80	<-12 mths	218.40%
															$0.07	<-12 mths	250.00%
Adjusted Net Income US$	$1,164	-$646	-$5,873	-$304	-$208	-$1,206	$22	$60	$31	$88	-$55	-$103	$30.6	$12.5					104.11%	<-Total Growth	10	Adjusted Net Income US$		US$
Basic	$2.22	-$1.23	-$11.18	-$0.58	-$0.40	-$2.30	$0.04	$0.11	$0.06	$0.16	-$0.10	-$0.18	$0.05	$0.02					103.64%	<-Total Growth	10	AEPS		US$
AEPS* Dilued	$2.22	-$1.23	-$11.18	-$0.58	-$0.86	-$2.30	$0.05	$0.11	$0.06	$0.16	-$0.10	-$0.18	$0.05	$0.02	$0.09	$0.14	$0.18		103.45%	<-Total Growth	10	AEPS		US$
Increase	-64.98%	-155.41%	-808.94%	94.81%	-48.28%	-167.44%	102.17%	120.00%	-45.45%	166.67%	-162.50%	-80.00%	127.78%	-60.00%	350.00%	55.56%	28.57%		6	4	10	Years of Data, EPS P or N	60.00%	US$
AEPS Yield	15.10%	-8.51%	-138.37%	-6.49%	-10.63%	-29.68%	0.43%	1.25%	1.18%	1.47%	-1.46%	-4.70%	1.80%	0.46%	2.51%	3.91%	5.03%		#NUM!	<-IRR #YR->	10	AEPS	103.45%	US$
5 year Running Average	$3.69	$2.99	$0.09	-$0.89	-$2.33	-$3.23	-$2.97	-$0.72	-$0.59	-$0.38	$0.06	$0.01	$0.00	-$0.01	-$0.02	$0.02	$0.10		-19.73%	<-IRR #YR->	5	AEPS	-66.67%	US$
Payout Ratio																			-36.14%	<-IRR #YR->	10	5 yr Running Average	98.87%	US$
5 year Running Average																			-55.73%	<-IRR #YR->	5	5 yr Running Average	98.30%	US$
Price/AEPS Median	17.25	-9.78	-0.99	-17.03	-9.92	-3.10	210.80	91.00	124.83	75.00	-110.70	-30.58	90.30	153.75	43.00	0.00	0.00		82.65	<-Median->	10	Price/AEPS Median		US$
Price/AEPS High	28.87	-14.42	-1.46	-21.72	-12.85	-3.47	288.00	120.45	168.17	131.88	-158.80	-43.50	110.60	202.00	54.11	0.00	0.00		115.53	<-Median->	10	Price/AEPS High		US$
Price/AEPS Low	5.64	-5.13	-0.51	-12.33	-7.00	-2.73	133.60	61.55	81.50	18.13	-62.60	-17.67	70.00	105.50	31.89	0.00	0.00		39.84	<-Median->	10	Price/AEPS Low		US$
Price/AEPS Close	6.62	-11.75	-0.72	-15.40	-9.41	-3.37	230.00	79.91	84.67	68.19	-68.70	-21.28	55.60	219.50	39.78	25.57	19.89		61.89	<-Median->	10	Price/AEPS Close		US$
Trailing P/AEPS Close	2.32	6.51	-6.57	-0.80	-13.95	-9.01	-5.00	175.80	46.18	181.83	42.94	-38.30	-15.44	87.80	179.00	39.78	25.57		18.97	<-Median->	10	Trailing P/AEPS Close		US$
Median Values	P/AEPS	Historical	in order	15.65	24.38	7.47	10.91	P/AEPS	5 Yrs	in order	75.00	110.60	18.13	55.60		-46.96%	Diff M/C					DPR 75% to 95% best		US$
* Adjusted Earnings per Share
				$0.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.02
									-$0.06	$0.00	$0.00	$0.00	$0.00	$0.02
				$0.89	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.01
									$0.59	$0.00	$0.00	$0.00	$0.00	-$0.01
															$54.61	<-12 mths	202.57%
															$0.10	<-12 mths	232.59%
Adjusted Net Income CDN$	$1,152	-$663	-$6,514	-$380	-$279	-$1,598	$28	$80	$42	$112	-$70	-$140	$42	$18					104.75%	<-Total Growth	10	Adjusted Net Income CDN$		CDN$
Basic	$2.20	-$1.26	-$12.40	-$0.73	-$0.54	-$3.05	$0.05	$0.15	$0.08	$0.20	-$0.12	-$0.24	$0.07	$0.03					104.21%	<-Total Growth	10	AEPS		CDN$
AEPS* Dilued	$2.20	-$1.26	-$12.40	-$0.73	-$1.15	-$3.05	$0.06	$0.15	$0.08	$0.20	-$0.13	-$0.25	$0.07	$0.03	$0.12	$0.19	$0.25		103.98%	<-Total Growth	10	AEPS		CDN$
Increase	-64.54%	-157.49%	-881.93%	94.15%	-58.93%	-164.27%	102.11%	127.00%	-44.76%	151.89%	-162.61%	-92.80%	127.68%	-57.42%	327.62%	55.56%	28.57%		6	4	10	Years of Data, EPS P or N	60.00%	CDN$
AEPS Yield	16.15%	-9.27%	-112.22%	-5.36%	-11.18%	-33.01%	0.41%	1.25%	1.19%	1.47%	-1.47%	-4.68%	1.78%	0.45%	2.50%	3.89%	5.00%		#NUM!	<-IRR #YR->	10	AEPS	103.98%	CDN$
5 year Running Average	$3.88	$3.19	-$0.15	-$1.20	-$2.67	-$3.72	-$3.45	-$0.94	-$0.78	-$0.51	$0.07	$0.01	$0.00	-$0.01	-$0.03	$0.03	$0.13		-18.55%	<-IRR #YR->	5	AEPS	-64.16%	CDN$
Payout Ratio																			-35.70%	<-IRR #YR->	10	5 yr Running Average	98.79%	CDN$
5 year Running Average																			-54.96%	<-IRR #YR->	5	5 yr Running Average	98.15%	CDN$
Price/AEPS Median	18.09	-9.52	-0.73	-15.76	-9.53	-3.07	206.29	90.60	123.92	87.73	-106.59	-28.88	91.64	199.30	44.10	0.00	0.00		89.16	<-Median->	10	Price/AEPS Median		CDN$
Price/AEPS High	30.32	-14.09	-0.96	-20.70	-12.03	-3.43	272.51	118.40	167.18	155.15	-150.46	-40.08	112.36	298.17	54.26	0.00	0.00		115.38	<-Median->	10	Price/AEPS High		CDN$
Price/AEPS Low	5.87	-4.95	-0.49	-10.82	-7.03	-2.70	140.07	62.80	80.67	20.30	-62.72	-17.67	70.92	100.43	33.93	0.00	0.00		41.55	<-Median->	10	Price/AEPS Low		CDN$
Price/AEPS Close	6.19	-10.79	-0.89	-18.66	-8.94	-3.03	241.85	79.94	84.02	67.94	-68.07	-21.39	56.03	220.25	40.01	25.72	20.00		61.99	<-Median->	10	Price/AEPS Close		CDN$
Trailing P/AEPS Close	2.20	6.20	-8.75	-1.09	-14.21	-8.01	-5.10	181.46	46.41	171.15	42.62	-41.23	-15.51	93.78	171.08	40.01	25.72		18.76	<-Median->	10	Trailing P/AEPS Close		CDN$
Median Values	P/AEPS	Historical	in order	16.77	25.54	8.75	11.66	P/AEPS	5 Yrs	in order	87.73	112.36	20.30	56.03		-54.40%	Diff M/C					DPR 75% to 95% best		CDN$
* Adjusted Earnings per Share
				$0.73	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.03
									-$0.08	$0.00	$0.00	$0.00	$0.00	$0.03
				$1.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.01
									$0.78	$0.00	$0.00	$0.00	$0.00	-$0.01
															-$0.06	<-12 mths	53.85%
Difference Basic and Diluted	0.00%	0.00%	0.00%	0.00%	-115.00%	0.00%	2.63%	11.26%	-18.52%	0.00%	1650.00%	-6.30%	0.00%	0.00%					0.00%	<-Median->	10	Difference Basic and Diluted
Pre-split '05
Pre-split '07
EPS Basic $US	$2.22	-$1.23	-$11.18	-$0.58	-$0.40	-$2.30	$0.76	$0.17	-$0.27	-$1.97	$0.02	-$1.27	-$0.22	-$0.13					77.59%	<-Total Growth	10	EPS Basic		US$
Pre-split '05
Pre-split '07
EPS Diluted*	$2.22	-$1.23	-$11.18	-$0.58	-$0.86	-$2.30	$0.74	$0.15	-$0.32	-$1.97	-$0.31	-$1.35	-$0.22	-$0.13	$0.06	$0.10	$0.13		77.59%	<-Total Growth	10	EPS Diluted		US$
Increase	-64.98%	-155.41%	808.94%	-94.81%	48.28%	167.44%	-132.17%	-79.61%	-312%	516%	-84%	335%	-84%	-41%	-146%	58%	37%		2	8	10	Years of Data, EPS P or N
Earnings Yield	15.1%	-8.5%	-138.4%	-6.5%	-10.6%	-29.7%	6.4%	1.7%	-6.3%	-18.1%	-4.5%	-35.2%	-7.9%	-3.0%	1.7%	2.7%	3.6%		-13.89%	<-IRR #YR->	10	Earnings	77.59%	US$
5 year Running Average	$3.69	$2.99	$0.09	-$0.89	-$2.33	-$3.23	-$2.84	-$0.57	-$0.52	-$0.74	-$0.34	-$0.76	-$0.83	-$0.80	-$0.39	-$0.31	-$0.01		-16.49%	<-IRR #YR->	5	Earnings	59.38%	US$
10 year Running Average	$2.03	$1.94	$0.81	$0.72	$0.57	$0.23	$0.08	-$0.24	-$0.70	-$1.53	-$1.79	-$1.80	-$0.70	-$0.66	-$0.56	-$0.33	-$0.39		-1.07%	<-IRR #YR->	10	5 yr Running Average	10.16%	US$
* Diluted ESP per share										E/P	10 Yrs	-7.11%	5Yrs	-7.91%					8.98%	<-IRR #YR->	5	5 yr Running Average	-53.72%	US$
				$0.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.13
									$0.32	$0.00	$0.00	$0.00	$0.00	-$0.13
				$0.89	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.80
									$0.52	$0.00	$0.00	$0.00	$0.00	-$0.80
															-$0.08	<-12 mths	56.14%
Difference Basic and Diluted	0.00%	0.00%	0.00%	0.00%	-115.00%	0.00%	2.63%	11.26%	-18.52%	0.00%	1650.00%	-6.30%	0.00%	0.00%					0.00%	<-Median->	10	Difference Basic and Diluted
EPS Basic	$2.20	-$1.26	-$12.40	-$0.73	-$0.54	-$3.05	$0.98	$0.23	-$0.36	-$2.50	$0.03	-$1.73	-$0.30	-$0.19					74.13%	<-Total Growth	10	EPS Basic		CDN$
Pre-split '05 CDN$
Pre-split '07 CDN$
EPS Diluted*	$2.20	-$1.26	-$12.40	-$0.73	-$1.15	-$3.05	$0.95	$0.20	-$0.43	-$2.50	-$0.39	-$1.84	-$0.30	-$0.19	$0.08	$0.13	$0.18		74.13%	<-Total Growth	10	EPS Diluted		CDN$
Increase	-64.54%	-157.49%	881.93%	-94.15%	58.93%	164.27%	-131.21%	-78.96%	-315%	482%	-84%	366%	-84%	-37%	-144%	58%	37%		2	8	10	Years of Data, EPS P or N		CDN$
Earnings Yield	16.2%	-9.3%	-112.2%	-5.4%	-11.2%	-33.0%	6.1%	1.7%	-6.3%	-18.1%	-4.6%	-35.1%	-7.9%	-3.0%	1.7%	2.6%	3.6%		-12.65%	<-IRR #YR->	10	Earnings	74.13%	CDN$
5 year Running Average	$3.88	$3.19	-$0.15	-$1.20	-$2.67	-$3.72	-$3.28	-$0.75	-$0.70	-$0.96	-$0.43	-$0.99	-$1.09	-$1.04	-$0.53	-$0.42	-$0.02		-15.27%	<-IRR #YR->	5	Earnings	56.32%	CDN$
10 year Running Average	$2.16	$2.08	$0.82	$0.70	$0.52	$0.08	-$0.04	-$0.45	-$0.95	-$1.82	-$2.08	-$2.13	-$0.92	-$0.87	-$0.75	-$0.43	-$0.51		-1.38%	<-IRR #YR->	10	5 yr Running Average	13.01%	CDN$
* Diluted ESP per share										E/P	10 Yrs	-7.10%	5Yrs	-7.85%					#NUM!	<-IRR #YR->	-1	5 yr Running Average	-49.96%	CDN$
				$0.73	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.19
									$0.43	$0.00	$0.00	$0.00	$0.00	-$0.19
				$1.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$1.04
																					Yr	Item	Tot. Growth	Per Year
Revenue Growth US$									$1,040.0	$893.0	$718.0	$656.0	$853.0	$534.9	$513	<-12 mths	-4.17%		-48.57%	<-Total Growth	5	Revenue Growth US$	-48.57%	-12.45%
AEPS Growth									$0.06	$0.16	-$0.10	-$0.18	$0.05	$0.02	$0.07	<-12 mths	250.00%		-66.67%	<-Total Growth	5	AEPS Growth	-66.67%	-19.73%
Net Income Growth									-$152.0	-$1,104.0	$12.0	-$734.0	-$130.2	-$79.0	-$35	<-12 mths	55.57%		48.03%	<-Total Growth	5	Net Income Growth	48.03%	8.16%
Cash Flow Growth									$26.0	$82.0	-$28.0	-$263.0	-$3.0	$16.5	$14	<-12 mths	-17.58%		-36.54%	<-Total Growth	5	Cash Flow Growth	-36.54%	-8.69%
Dividend Growth									$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.03	<-12 mths	#DIV/0!		0.00%	<-Total Growth	5	Dividend Growth	0.00%	0.00%
Stock Price Growth									$5.08	$10.91	$6.87	$3.83	$2.78	$4.39	$3.58	<-12 mths	-18.45%		-13.58%	<-Total Growth	5	Stock Price Growth	-13.58%	-2.88%
Revenue Growth				$3,335.0	$2,160.0	$1,309.0	$932.0	$904.0	$1,040.0	$893.0	$718.0	$656.0	$853.0	$534.9	$520	<-this year	-2.84%		-83.96%	<-Total Growth	10	Revenue Growth	-83.96%	-16.72%
AEPS Growth				-$0.58	-$0.86	-$2.30	$0.05	$0.11	$0.06	$0.16	-$0.10	-$0.18	$0.05	$0.02	$0.09	<-this year	350.00%		103.45%	<-Total Growth	10	AEPS Growth	103.45%	7.36%
Net Income Growth				-$304.0	-$208.0	-$1,206.0	$405.0	$93.0	-$152.0	-$1,104.0	$12.0	-$734.0	-$130.2	-$79.0	$35	<-this year	144.06%		74.01%	<-Total Growth	10	Net Income Growth	74.01%	5.70%
Cash Flow Growth				$813.0	$257.0	-$224.0	$704.0	$704.0	$26.0	$82.0	-$28.0	-$263.0	-$3.0	$16.5	$42	<-this year	152.95%		-97.97%	<-Total Growth	10	Cash Flow Growth	-97.97%	-32.28%
Dividend Growth				$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	<-this year	#DIV/0!		0.00%	<-Total Growth	10	Dividend Growth	0.00%	0.00%
Stock Price Growth				$8.93	$8.09	$7.75	$11.50	$8.79	$5.08	$10.91	$6.87	$3.83	$2.78	$4.39	$3.58	<-this year	-18.45%		-50.84%	<-Total Growth	10	Stock Price Growth	-50.84%	-6.85%
Dividends on Shares					$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	10	Total Divs	12/31/14
Paid				$1,006.46	$1,014.36	$725.22	$1,109.16	$767.09	$659.65	$666.76	$933.78	$348.39	$371.30	$431.34	$390.26	$390.26	$390.26		$431.34	No of Years	10	Worth	$12.74	78.49
Total																			$431.34
Graham No.CDN$ AEPS	$30.70	$30.27	$3.32	$3.43	$3.45	$2.73	$2.94	$4.58	$3.33	$3.93	$3.96	$3.03	$1.65	$1.63	$2.15	$2.69	$3.04		-52.38%	<-Total Growth	10	Graham Price AEPS		CDN$
Price/GP Ratio Med	1.29	0.40	2.72	3.34	3.18	3.43	4.50	2.89	3.00	4.54	3.42	2.34	3.76	3.53	2.53				3.43	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio High	2.17	0.59	3.60	4.38	4.02	3.84	5.95	3.77	4.04	8.02	4.83	3.25	4.62	5.28	3.11				4.33	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Low	0.42	0.21	1.84	2.29	2.35	3.02	3.06	2.00	1.95	1.05	2.01	1.43	2.91	1.78	1.95				2.01	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Close	0.44	0.45	3.33	3.95	2.98	3.39	5.28	2.55	2.03	3.51	2.19	1.73	2.30	3.90	2.29	1.84	1.62		2.77	<-Median->	10	Price/GP Ratio		CDN$
Prem/Disc Close	-55.70%	-54.96%	232.57%	295.29%	198.48%	238.69%	427.73%	154.70%	103.11%	251.33%	118.51%	73.22%	130.16%	289.95%	129.44%	83.96%	62.24%		176.59%	<-Median->	10	Graham Price		CDN$
Graham No.CDN$ EPS	$30.70	$30.27	$19.43	$13.18	$13.29	$10.48	$11.33	$5.36	$5.25	$3.90	$3.93	$3.00	$2.84	$2.26	$2.21	$2.21	$2.59		-82.84%	<-Total Growth	10	Graham Price EPS		CDN$
Price/GP Ratio Med	1.29	0.40	0.47	0.87	0.83	0.89	1.17	2.46	1.90	4.57	3.45	2.36	2.19	2.55	2.46				2.27	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio High	2.17	0.59	0.62	1.14	1.04	1.00	1.55	3.22	2.56	8.08	4.87	3.27	2.69	3.81	3.03				2.95	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Low	0.42	0.21	0.31	0.60	0.61	0.79	0.79	1.71	1.24	1.06	2.03	1.44	1.70	1.28	1.89				1.26	<-Median->	10	Price/GP Ratio		CDN$
Price/GP Ratio Close	0.44	0.45	0.57	1.03	0.78	0.88	1.37	2.17	1.29	3.54	2.20	1.74	1.34	2.81	2.23	2.23	1.91		1.56	<-Median->	10	Price/GP Ratio		CDN$
Prem/Disc Close	-55.70%	-54.96%	-43.12%	2.75%	-22.41%	-11.96%	37.18%	117.49%	28.91%	253.89%	120.10%	74.48%	34.01%	181.28%	123.32%	123.32%	90.91%		55.83%	<-Median->	10	Graham Price		CDN$
Month, Year	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26	Dec-27		27.00	<Count Years>		Month, Year
Price Close CDN$	$14.80	$11.80	$7.90	$12.74	$12.84	$9.18	$14.04	$9.71	$8.35	$8.44	$11.82	$4.41	$4.70	$5.46	$4.94	$4.94	$4.94		-57.14%	<-Total Growth	10	Stock Price		CDN$
Increase	-74.51%	-20.27%	-33.05%	61.27%	0.78%	-28.50%	52.94%	-30.84%	-14.01%	1.08%	40.05%	-62.69%	6.58%	16.17%	-9.52%	0.00%	0.00%		-5.39	<-Median->	10	CAPE (10 Yr P/E)		CDN$
P/E	6.74	-9.34	-0.64	-17.56	-11.14	-3.01	14.76	48.54	-19.43	-3.38	-30.00	-2.40	-15.75	-29.09	60.01	37.90	27.70		-8.15%	<-IRR #YR->	5	Stock Price	-57.14%	CDN$
Trailing P/E	2.39	5.37	-6.26	-1.03	-17.70	-7.96	-4.61	10.21	41.74	-19.64	-4.73	-11.19	-2.56	-18.30	-26.32	60.01	37.90		-8.12%	<-IRR #YR->	10	Stock Price	-34.61%	CDN$
CAPE (10 Yr P/E)	6.87	5.68	9.60	18.07	24.91	112.65	-313.39	-21.58	-8.81	-4.65	-5.69	-2.07	-5.09	-6.28	-6.62	-11.53	-9.77		-15.72%	<-IRR #YR->	15	Stock Price	-92.31%	CDN$
Median 10, 5 Yrs									T P/E	-6.35	-11.19	P/E:	-7.26	-15.75					-8.59%	<-IRR #YR->	20	Stock Price	-83.42%	CDN$
Stock Price 25																			-2.81%	<-IRR #YR->	25	Stock Price	58.72%	CDN$
Stock Price 30																			5.53%	<-IRR #YR->	28	Stock Price
Stock Price 5									-$8.35	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 5		CDN$
Stock Price 10				-$12.74	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 10		CDN$
Stock Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 15		CDN$
Stock Price 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 20		CDN$
Stock Price 25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 25		CDN$
Stock Price 30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.46								Stock Price 30
Month, Year March 1	Mar-12	Mar-13	Mar-14	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	Mar-25	Mar-26	Mar-27	Feb-28		28.00	<Count Years>		Month, Year
pre-split '05
pre-split '07
Price Close CDN$	$13.60	$13.63	$11.05	$13.54	$10.31	$9.23	$15.54	$11.66	$6.77	$13.79	$8.65	$5.24	$3.80	$6.36	$4.94	$4.94	$4.94		-53.03%	<-Total Growth	10	Stock Price
Increase	-78.95%	0.22%	-18.93%	22.53%	-23.86%	-10.48%	68.36%	-24.97%	-41.94%	103.69%	-37.27%	-39.42%	-27.48%	67.37%	-22.33%	0.00%	0.00%		-1.24%	<-IRR #YR->	5	Stock Price	-6.06%	CDN$
P/E	6.19	-10.79	-0.89	-18.66	-8.94	-3.03	16.34	58.29	-15.75	-5.52	-21.96	-2.85	-12.73	-33.88	60.01	37.90	27.70		-7.28%	<-IRR #YR->	10	Stock Price	-53.03%	CDN$
Trailing P/E	2.20	6.20	-8.75	-1.09	-14.21	-8.01	-5.10	12.26	33.84	-32.09	-3.46	-13.30	-2.07	-21.31	-26.32	60.01	37.90
Median 10, 5 Yrs										Price Inc	-27.48%	P/E:	-7.23	-12.73
				-$13.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.36
									-$6.77	$0.00	$0.00	$0.00	$0.00	$6.36
Price H/L CDN$	$39.75	$12.03	$9.04	$11.44	$10.99	$9.35	$13.26	$13.22	$9.99	$17.81	$13.55	$7.08	$6.22	$5.76	$5.45				-49.67%	<-Total Growth	10	Stock Price		CDN$
Increase	-35.60%	-69.75%	-24.86%	26.56%	-3.94%	-14.88%	41.76%	-0.30%	-24.44%	78.32%	-23.93%	-47.77%	-12.16%	-7.40%	-5.39%				-6.64%	<-IRR #YR->	10	Stock Price	-49.67%	CDN$
P/E	18.09	-9.52	-0.73	-15.76	-9.53	-3.07	13.94	66.06	-23.24	-7.13	-34.38	-3.85	-20.83	-30.66	66.14				-10.43%	<-IRR #YR->	5	Stock Price	-42.36%	CDN$
Trailing P/E	6.42	5.47	-7.15	-0.92	-15.14	-8.11	-4.35	13.90	49.92	-41.43	-5.42	-17.96	-3.38	-19.29	-29.01
P/E on Run. 5 yr Ave	10.24	3.77	-62.29	-9.53	-4.12	-2.51	-4.05	-17.51	-14.35	-18.45	-31.19	-7.13	-5.69	-5.52	-10.33
P/E on Run. 10 yr Ave	18.44	5.79	10.98	16.22	21.31	114.73	-295.87	-29.37	-10.54	-9.80	-6.52	-3.32	-6.73	-6.62	-7.30				9.96	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs										Price Inc	-12.16%	P/E:	-8.33	-20.83						Count	29	Years of data		CDN$
				-$11.44	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.76
									-$9.99	$0.00	$0.00	$0.00	$0.00	$5.76
CDN Month	Mar 11	Jan 13	Jan 14	Jan 15	Mar 15	Sep 16	Jan 18	Mar 18	Mar 19	Jan 21	Jun 21	Mar 22	Sep 23	Feb 25	Jun 25							Month, Year
pre-split '05
pre-split '07
Price High CDN$	$66.60	$17.80	$11.96	$15.02	$13.87	$10.46	$17.51	$17.27	$13.47	$31.49	$19.12	$9.82	$7.62	$8.61	$6.70				-42.68%	<-Total Growth	10	Stock Price		CDN$
Increase	-14.35%	-73.27%	-32.81%	25.59%	-7.66%	-24.59%	67.40%	-1.37%	-22.00%	133.78%	-39.28%	-48.64%	-22.40%	12.99%	-22.18%				-5.41%	<-IRR #YR->	10	Stock Price	-42.68%	CDN$
P/E	30.32	-14.09	-0.96	-20.70	-12.03	-3.43	18.41	86.33	-31.35	-12.60	-48.53	-5.34	-25.54	-45.87	81.39				-8.56%	<-IRR #YR->	5	Stock Price	-36.08%	CDN$
Trailing P/E	10.75	8.10	-9.47	-1.21	-19.12	-9.07	-5.75	18.16	67.34	-73.28	-7.65	-24.93	-4.15	-28.85	-35.70				12.55	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs									T P/E	-8.36	-24.93	P/E:	-12.32	-25.54					79.38	P/E Ratio		Historical High		CDN$
				-$15.02	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.61
									-$13.47	$0.00	$0.00	$0.00	$0.00	$8.61
CDN Month	Dec 11	Sep 12	Dec 13	Apr 14	Oct 15	Jun 16	Mar 17	Dec 18	Oct 19	Mar 20	Feb 22	Dec 22	Mar 23	Aug 24	Apr 25							Month, Year
pre-split '05
pre-split '07
Price Low CDN$	$12.90	$6.25	$6.11	$7.85	$8.10	$8.24	$9.00	$9.16	$6.50	$4.12	$7.97	$4.33	$4.81	$2.90	$4.19				-63.06%	<-Total Growth	10	Stock Price		CDN$
Increase	-71.77%	-51.55%	-2.24%	28.48%	3.18%	1.73%	9.22%	1.78%	-29.04%	-36.62%	93.45%	-45.67%	11.09%	-39.71%	44.48%				-9.48%	<-IRR #YR->	10	Stock Price	-63.06%	CDN$
P/E	5.87	-4.95	-0.49	-10.82	-7.03	-2.70	9.46	45.79	-15.13	-1.65	-20.23	-2.36	-16.12	-15.45	50.90				-14.91%	<-IRR #YR->	5	Stock Price	-55.38%	CDN$
Trailing P/E	2.08	2.84	-4.84	-0.63	-11.17	-7.15	-2.95	9.63	32.49	-9.59	-3.19	-10.99	-2.62	-9.72	-22.32				5.87	P/E Ratio		Historical Median		CDN$
Median 10, 5 Yrs									T P/E	-5.17	-9.59	P/E:	-4.86	-15.45					-15.13	P/E Ratio		Historical Low		CDN$
				-$7.85	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.90
									-$6.50	$0.00	$0.00	$0.00	$0.00	$2.90
Close Price US$ using CDN$	$14.96	$11.49	$7.12	$10.19	$9.58	$6.93	$10.93	$7.32	$6.22	$6.65	$9.30	$3.24	$3.47	$3.78	$3.60	$3.60	$3.60		-62.87%	<-Total Growth	10	Stock Price		US$
pre-split '05
pre-split '07
US Prices	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26	Dec-27		28.00	<Count Years>		Month, Year
Price Close US$	$14.50	$11.87	$7.44	$10.98	$9.28	$6.89	$11.17	$7.11	$6.42	$6.63	$9.35	$3.26	$3.54	$3.78	$3.58	$3.58	$3.58		-65.57%	<-Total Growth	10	Stock Price		US$
Increase	-75.06%	-18.14%	-37.32%	47.58%	-15.48%	-25.75%	62.12%	-36.35%	-9.70%	3.27%	41.03%	-65.13%	8.59%	6.78%	-5.29%	0.00%	0.00%		-4.68	<-Median->	10	CAPE (10 Yr P/E)		US$
P/E	6.53	-9.65	-0.67	-18.93	-10.79	-3.00	15.09	47.13	-20.06	-3.37	-30.16	-2.41	-16.09	-29.08	59.67	37.68	27.54		-10.05%	<-IRR #YR->	5	Stock Price	-41.12%	US$
Trailing P/E	2.29	5.35	-6.05	-0.98	-16.00	-8.01	-4.86	9.61	42.56	-20.72	-4.75	-10.52	-2.62	-17.18	-27.54	59.67	37.68		-10.11%	<-IRR #YR->	10	Stock Price	-65.57%	US$
CAPE (10 Yr P/E)	7.13	6.11	9.14	15.26	16.33	30.22	146.97	-29.76	-9.15	-4.33	-5.24	-1.81	-5.04	-5.75	-6.34	-11.00	-9.26		-17.49%	<-IRR #YR->	15	Stock Price	-94.40%	US$
Median 10, 5 Yrs										Price Inc	6.78%	P/E:	-7.08	-16.09					-9.44%	<-IRR #YR->	20	Stock Price	-86.24%	US$
Stock Price 25													CAPE Diff	35.29%					-2.81%	<-IRR #YR->	25	Stock Price	-4.30%	US$
Stock Price 30																			5.33%	<-IRR #YR->	28	Stock Price
Stock Price 5									-$6.42	$0.00	$0.00	$0.00	$0.00	$3.78								Stock Price 5
Stock Price 10				-$10.98	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78								Stock Price 10
Stock Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78								Stock Price 15		US$
Stock Price 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78								Stock Price 20		US$
Stock Price 25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78								Stock Price 25		US$
Stock Price 30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78
																								US$
Close Price US$ using CDN$	$13.74	$13.27	$9.96	$10.83	$7.69	$6.97	$12.09	$8.79	$5.04	$10.87	$6.81	$3.85	$2.80	$4.41	$3.60	$3.60	$3.60
US Prices	Mar-12	Mar-13	Mar-14	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	Mar-25	Mar-26	Mar-27	Mar-28
Price Close US$ March 1	$14.70	$14.45	$8.08	$8.93	$8.09	$7.75	$11.50	$8.79	$5.08	$10.91	$6.87	$3.83	$2.78	$4.39	$3.58	$3.58	$3.58		-50.84%	<-Total Growth	10	Stock Price		US$
Increase	-73.53%	-1.70%	-44.08%	10.52%	-9.41%	-4.20%	48.39%	-23.57%	-42.21%	114.76%	-37.03%	-44.25%	-27.42%	57.91%	-18.45%	0.00%	0.00%		-3.90	<-Median->	10	CAPE (10 Yr P/E)		US$
P/E	6.62	-11.75	-0.72	-15.40	-9.41	-3.37	15.54	58.27	-15.88	-5.54	-22.16	-2.84	-12.64	-33.77	59.67	37.68	27.54		-2.88%	<-IRR #YR->	5	Stock Price	-13.58%	US$
Trailing P/E	2.32	6.51	-6.57	-0.80	-13.95	-9.01	-5.00	11.88	33.67	-34.09	-3.49	-12.35	-2.06	-19.95	-27.54	59.67	37.68		-6.85%	<-IRR #YR->	10	Stock Price	-50.84%	US$
CAPE (10 Yr P/E)	7.23	7.44	9.93	12.41	14.23	33.99	151.32	-36.79	-7.24	-7.12	-3.85	-2.13	-3.96	-6.68	-6.34	-11.00	-9.26
Median 10, 5 Yrs										Price Inc	-27.42%	P/E:	-7.47	-12.64
Stock Price 5									-$5.08	$0.00	$0.00	$0.00	$0.00	$4.39								Stock Price 5
Stock Price 10				-$8.93	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.39								Stock Price 10
Close Price US$ using CDN$	$40.17	$11.71	$8.15	$9.14	$8.19	$7.06	$10.31	$9.97	$7.44	$14.04	$10.66	$5.20	$4.58	$3.99	$3.97
Price H/L US$	$38.31	$12.03	$11.02	$9.88	$8.54	$7.14	$10.54	$10.01	$7.49	$12.00	$11.07	$5.51	$4.52	$3.08	$3.87				-68.86%	<-Total Growth	10	Stock Price		US$
Increase	-35.50%	-68.61%	-8.36%	-10.39%	-13.57%	-16.40%	47.72%	-5.03%	-25.17%	60.21%	-7.75%	-50.27%	-17.98%	-31.89%	25.85%				-11.01%	<-IRR #YR->	10	Stock Price	-68.86%	US$
P/E	17.25	-9.78	-0.99	-17.03	-9.92	-3.10	14.24	66.35	-23.41	-6.09	-35.71	-4.08	-20.52	-23.65	64.50				-16.31%	<-IRR #YR->	5	Stock Price	-58.95%	US$
Trailing P/E	6.04	5.42	-8.96	-0.88	-14.72	-8.30	-4.58	13.53	49.65	-37.50	-5.62	-17.76	-3.34	-13.98	-29.77
P/E on Run. 5 yr Ave	10.39	4.02	119.78	-11.15	-3.67	-2.21	-3.72	-17.57	-14.46	-16.22	-32.38	-7.25	-5.41	-3.86	-9.92
P/E on Run. 10 yr Ave	18.84	6.19	13.54	13.72	15.02	31.29	138.68	-41.90	-10.67	-7.83	-6.20	-3.06	-6.43	-4.68	-6.85				9.37	P/E Ratio		Historical Median
Median 10, 5 Yrs									T P/E	-6.96	-13.98	P/E:	-8.01	-20.52						Count	29	Years of data
				-$9.88	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.08
									-$7.49	$0.00	$0.00	$0.00	$0.00	$3.08
Close Price US$ using CDN$	$67.30	$17.34	$10.78	$12.01	$10.35	$7.90	$13.63	$13.02	$10.03	$24.82	$15.05	$7.21	$5.62	$5.96	$4.88
US Month	Mar 11	Jan 13	Apr13	Jan 15	Mar 15	Sep 16	Jan 18	Mar  18	Mar  19	Jan 21	Jun 21	Mar 22	Sep 23	Feb 25	Jun 25							US Month		US$
pre-split '05																								US$
pre-split '07																								US$
Price High US$	$64.09	$17.74	$16.29	$12.60	$11.05	$7.98	$14.40	$13.25	$10.09	$21.10	$15.88	$7.83	$5.53	$4.04	$4.87				-67.94%	<-Total Growth	10	Stock Price		US$
Increase	-15.60%	-72.32%	-8.17%	-22.65%	-12.30%	-27.78%	80.45%	-7.99%	-23.85%	109.12%	-24.74%	-50.69%	-29.37%	-26.94%	20.54%				-10.75%	<-IRR #YR->	10	Stock Price	-67.94%	US$
P/E	28.87	-14.42	-1.46	-21.72	-12.85	-3.47	19.46	87.83	-31.53	-10.71	-51.23	-5.80	-25.14	-31.08	81.17				-16.73%	<-IRR #YR->	5	Stock Price	-59.96%	US$
Trailing P/E	10.11	7.99	-13.24	-1.13	-19.05	-9.28	-6.26	17.91	66.88	-65.94	-8.06	-25.26	-4.10	-18.36	-37.46				11.98	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs									T P/E	-8.67	-18.36	P/E:	-11.78	-25.14					87.83	P/E Ratio		Historical High		US$
				-$12.60	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.04
									-$10.09	$0.00	$0.00	$0.00	$0.00	$4.04
	$13.04	$6.09	$5.51	$6.28	$6.04	$6.22	$7.00	$6.91	$4.84	$3.25	$6.27	$3.18	$3.55	$2.01	$3.05
US Month	Aug 11	Sep12	Dec 13	Apr 14	Sep 15	Jun 16	Mar 17	Dec 18	Oct 19	Mar 20	Feb 22	Dec 22	Mar 23	Aug 24	Apr 25							US Month		US$
pre-split '05																								US$
pre-split '07																								US$
Price Low US$	$12.52	$6.31	$5.75	$7.15	$6.02	$6.29	$6.68	$6.77	$4.89	$2.90	$6.26	$3.18	$3.50	$2.11	$2.87				-70.49%	<-Total Growth	10	Stock Price		US$
Increase	-70.77%	-49.60%	-8.87%	24.35%	-15.80%	4.49%	6.20%	1.35%	-27.77%	-40.70%	115.86%	-49.20%	10.06%	-39.71%	36.02%				-11.49%	<-IRR #YR->	10	Stock Price	-70.49%	US$
P/E	5.64	-5.13	-0.51	-12.33	-7.00	-2.73	9.03	44.88	-15.28	-1.47	-20.19	-2.36	-15.91	-16.23	47.83				-15.47%	<-IRR #YR->	5	Stock Price	-56.85%	US$
Trailing P/E	1.97	2.84	-4.67	-0.64	-10.38	-7.31	-2.90	9.15	32.41	-9.06	-3.18	-10.26	-2.59	-9.59	-22.08				5.64	P/E Ratio		Historical Median		US$
Median 10, 5 Yrs									T P/E	-5.25	-9.06	P/E:	-4.87	-15.91					-15.28	P/E Ratio		Historical Low		US$
				-$7.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.11
									-$4.89	$0.00	$0.00	$0.00	$0.00	$2.11
Free Cash Flow Mkt Sc										$74.00	-$36.00	-$270.00	-$10.00	$13.40	$18.00	$95.00	$82.00
Change											-148.65%	-650.00%	96.30%	234.00%	34.33%	427.78%	-13.68%
Free Cash FlowUS$ WSJ										$77.83	-$35.50	-$260.65	-$10.55	$12.85								Free Cash FlowUS$ WSJ		US$
Free Cash Flow CDN$ WSJ										$98.73	-$45.11	-$354.79	-$14.31	$18.55								Free Cash Flow CDN$ WSJ		CDN$
Change											-145.69%	-686.46%	95.97%	229.63%								Change		CDN$
Free Cash Flow US$ MS Old					-$293	$659	$51	$51	-$18	$38	-$67	-$311	-$10
Change
Free Cash Flow US$ MS	$880	$1,522	$305	$155	$42	-$190	$771	$66	$3	$94	-$68	-$311	$131	$33.14	$18.00	$95.00	$82.00		-78.62%	<-Total Growth	10	Free Cash Flow		US$
Change	525.12%	72.95%	-79.96%	-49.18%	-72.90%	-552.38%	505.79%	-91.44%	-95.45%	3033.33%	-172.34%	-357.35%	142.12%	-74.70%	-45.68%	427.78%	-13.68%		#NUM!	<-IRR #YR->	4	Free Cash Flow MS	1004.67%	US$
FCF/CF from Op Ratio	0.30	0.66	-1.92	0.19	0.16	0.85	1.10	0.09	0.12	1.15	2.43	1.18	-43.67	2.01	0.43	#DIV/0!	#DIV/0!		#NUM!	<-IRR #YR->	9	Free Cash Flow MS	-78.62%	US$
								-$66	$0	$0	$0	$0	$131
			-$305	$0	$0	$0	$0	$0	$0	$0	$0	$0	$131
Market Cap US$	$7,705	$7,574	$4,255	$4,722	$4,216	$4,111	$6,172	$4,811	$2,815	$6,170	$3,959	$2,230	$1,638	$2,617	$2,135	$2,135	$2,135		-44.57%	<-Total Growth	10	Market Cap		US$
Market Cap CDN$	$7,129	$7,144	$5,818	$7,160	$5,373	$4,896	$8,341	$6,382	$3,752	$7,798	$4,984	$3,051	$2,239	$3,792	$2,945	$2,945	$2,945		-47.04%	<-Total Growth	10	Market Cap		CDN$
Diluted # of Shares in Million		524.160	525.168	527.684	651.303	525.265	545.886	616.467	614.361	561.305	631.440	639.487	584.543	591.470	600.831				12.09%	<-Total Growth	10	Diluted
Change			0.19%	0.48%	23.43%	-19.35%	3.93%	12.93%	-0.34%	-8.64%	12.49%	1.27%	-8.59%	1.19%	1.58%				1.23%	<-Median->	10	Change
Difference Diluted/Basic		0.0%	0.0%	-0.5%	-19.2%	0.0%	-2.4%	-12.3%	-9.8%	0.0%	-9.6%	-9.5%	0.0%	0.0%	-0.8%				-5.95%	<-Median->	10	Difference Diluted/Basic
Basic # of Shares in Millions	524.100	524.160	525.168	525.168	526.303	525.265	532.888	540.477	553.861	561.305	570.607	578.654	584.543	591.470	596.300	adjust			12.62%	<-Total Growth	10	Average
Change	-2.22%	0.01%	0.19%	0.00%	0.22%	-0.20%	1.45%	1.42%	2.48%	1.34%	1.66%	1.41%	1.02%	1.19%	0.82%				1.38%	<-Median->	10	Change
Basic # of Shares in Millions	0.0%	0.0%	0.3%	0.7%	-1.0%	1.0%	0.7%	1.3%	0.1%	0.7%	1.0%	0.6%	0.8%	0.8%	0.0%				0.78%	<-Median->	10	Basic # of Shares in Millions
															$13.60	<-12 mths	-97.72%
pre-split '05
pre-split '07
# of Share in Millions	524.160	524.160	526.552	528.802	521.172	530.497	536.734	547.358	554.199	565.505	576.228	582.157	589.233	596.231	596.231	596.231	596.231		1.21%	<-IRR #YR->	10	Shares	12.75%	capital stock
Increase	0.06%	0.00%	0.46%	0.43%	-1.44%	1.79%	1.18%	1.98%	1.25%	2.04%	1.90%	1.03%	1.22%	1.19%	0.00%	0.00%	0.00%		1.47%	<-IRR #YR->	5	Shares	7.58%
CF fr Op $M US$	$2,912	$2,303	-$159	$813	$257	-$224	$704	$704	$26	$82	-$28	-$263	-$3	$17	$42				-97.97%	<-Total Growth	10	Cash Flow		US$
Increase	-27.36%	-20.91%	-106.90%	611.32%	-68.39%	-187.16%	414.29%	0.00%	-96.31%	215.38%	-134.15%	-839.29%	98.86%	650.00%	152.95%				SO	Buy Backs
5 year Running Average	$2,597	$2,742	$2,420	$1,976	$1,225	$598	$278	$451	$293	$258	$298	$104	-$37	-$39	-$47				-101.98%	<-Total Growth	10	CF 5 Yr Running		US$
CFPS US$	$5.56	$4.39	-$0.30	$1.54	$0.49	-$0.42	$1.31	$1.29	$0.05	$0.15	-$0.05	-$0.45	-$0.01	$0.03	$0.07				-98.20%	<-Total Growth	10	Cash Flow per Share		US$
Increase	-27.40%	-20.91%	-106.87%	609.15%	-67.93%	-185.63%	410.63%	-1.94%	-96.35%	209.08%	-133.51%	-829.72%	98.87%	643.54%	152.95%				-32.28%	<-IRR #YR->	10	Cash Flow	-97.97%	US$
5 year Running Average	$4.80	$5.12	$4.55	$3.77	$2.34	$1.14	$0.52	$0.84	$0.54	$0.47	$0.55	$0.20	-$0.06	-$0.07	-$0.08				-8.69%	<-IRR #YR->	5	Cash Flow	-36.54%	US$
P/CF on Med Price	6.89	2.74	-36.49	6.42	17.31	-16.90	8.04	7.78	159.65	82.76	-227.82	-12.19	-886.79	111.12	55.29				-33.08%	<-IRR #YR->	10	Cash Flow per Share	-98.20%	US$
P/CF on Closing Price	2.65	3.29	-26.76	5.81	16.41	-18.35	8.77	6.83	108.28	75.24	-141.38	-8.48	-546.02	158.63	51.14				-10.02%	<-IRR #YR->	5	Cash Flow per Share	-41.01%	US$
																546.62%	Diff M/C		#NUM!	<-IRR #YR->	10	CFPS 5 yr Running	-101.77%	US$
Excl.Working Capital CF	$210.0	-$485.0	-$1,259.0	-$59.0	-$113.0	$103.0	$112.0	$15.0	$21.0	$56.0	-$1.0	-$7.0	$155.0	-$34.5	$0				#NUM!	<-IRR #YR->	5	CFPS 5 yr Running	-112.25%	US$
CF fr Op $M WC US$	$3,122	$1,818	-$1,418	$754	$144	-$121	$816	$719	$47	$138	-$29	-$270	$152	-$18	$42				-102.39%	<-Total Growth	10	Cash Flow less WC		US$
Increase	-30.70%	-41.77%	-178.00%	153.17%	-80.90%	-184.03%	774.38%	-11.89%	-93.46%	193.62%	-121.01%	-831.03%	156.30%	-111.84%	331.87%				#NUM!	<-IRR #YR->	10	Cash Flow less WC	-102.39%	US$
5 year Running Average	$2,898	$2,972	$2,245	$1,756	$884	$235	$35	$462	$321	$320	$338	$121	$8	-$5	-$25				#NUM!	<-IRR #YR->	5	Cash Flow less WC	-138.30%	US$
CFPS Excl. WC US$	$5.96	$3.47	-$2.69	$1.43	$0.28	-$0.23	$1.52	$1.31	$0.08	$0.24	-$0.05	-$0.46	$0.26	-$0.03	$0.07				#NUM!	<-IRR #YR->	10	CF less WC 5 Yr Run	-100.31%	US$
Increase	-30.74%	-41.77%	-177.64%	152.95%	-80.62%	-182.55%	766.54%	-13.60%	-93.54%	187.75%	-120.62%	-821.55%	155.62%	-111.70%	331.87%				#NUM!	<-IRR #YR->	5	CF less WC 5 Yr Run	-101.68%	US$
5 year Running Average	$5.36	$5.54	$4.21	$3.35	$1.69	$0.45	$0.06	$0.86	$0.59	$0.59	$0.62	$0.23	$0.01	-$0.01	-$0.04				#NUM!	<-IRR #YR->	10	CFPS - Less WC	-102.12%	US$
P/CF on Med Price	6.43	3.47	-4.09	6.93	30.89	-31.28	6.93	7.62	88.32	49.17	-219.96	-11.87	17.50	-101.86	55.29				#NUM!	<-IRR #YR->	5	CFPS - Less WC	-135.60%	US$
P/CF on Closing Price	2.47	4.17	-3.00	6.26	29.28	-33.98	7.56	6.69	59.90	44.71	-136.51	-8.26	10.78	-145.41	51.14				#NUM!	<-IRR #YR->	10	CFPS 5 yr Running	-100.25%	US$
				CF/-WC	P/CF Med	10 yr	7.91	5 yr	-12.19	P/CF Med	10 yr	7.28	5 yr	-11.87		602.84%	Diff M/C		#NUM!	<-IRR #YR->	5	CFPS 5 yr Running	-101.43%	US$
															$18.66	<-12 mths	134.58%
CF fr Op $M CDN$	$2,882	$2,365	-$176	$1,017	$345	-$297	$905	$934	$35	$104	-$36	-$358	-$4	$24	$57				-97.66%	<-Total Growth	10	Cash Flow		CDN$
Increase	-26.44%	-17.94%	-107.46%	676.60%	-66.12%	-186.13%	404.87%	3.18%	-96.26%	197.91%	-134.21%	-906.10%	98.86%	685.44%	140.37%				SO	Buy Backs
5 year Running Average	$2,683	$2,847	$2,438	$2,001	$1,286	$651	$359	$581	$384	$336	$388	$136	-$52	-$54	-$63				-102.70%	<-Total Growth	10	CF 5 Yr Running		CDN$
CFPS CDN$	$5.50	$4.51	-$0.33	$1.92	$0.66	-$0.56	$1.69	$1.71	$0.06	$0.18	-$0.06	-$0.61	-$0.01	$0.04	$0.10				-97.92%	<-Total Growth	10	Cash Flow per Share		CDN$
Increase	-26.48%	-17.94%	-107.42%	674.14%	-65.62%	-184.61%	401.33%	1.18%	-96.31%	191.96%	-133.57%	-895.86%	98.88%	678.57%	140.37%				-31.30%	<-IRR #YR->	10	Cash Flow	-97.66%	CDN$
5 year Running Average	$4.95	$5.31	$4.58	$3.82	$2.45	$1.24	$0.68	$1.08	$0.71	$0.62	$0.72	$0.26	-$0.09	-$0.09	-$0.11				-7.36%	<-IRR #YR->	5	Cash Flow	-31.77%	CDN$
P/CF on Med Price	7.23	2.67	-26.98	5.95	16.62	-16.71	7.86	7.75	158.49	96.80	-219.35	-11.51	-899.95	144.04	56.70				-32.12%	<-IRR #YR->	10	Cash Flow per Share	-97.92%	CDN$
P/CF on Closing Price	2.47	3.02	-32.99	7.04	15.59	-16.50	9.22	6.84	107.46	74.97	-140.08	-8.52	-550.25	159.18	51.44				-8.71%	<-IRR #YR->	5	Cash Flow per Share	-36.58%	CDN$
																558.93%	Diff M/C		#NUM!	<-IRR #YR->	10	CFPS 5 yr Running	-102.41%	CDN$
Excl.Working Capital CF	$208	-$498	-$1,396	-$74	-$151	$136	$144	$20	$28	$71	-$1	-$10	$210	-$50	$0.0				#NUM!	<-IRR #YR->	5	CFPS 5 yr Running	-112.93%	CDN$
CF fr Op $M WC CDN$	$3,090	$1,867	-$1,573	$943	$193	-$160	$1,049	$953	$63	$175	-$37	-$368	$206	-$26	$57				-102.76%	<-Total Growth	10	Cash Flow less WC		CDN$
Increase	-29.82%	-39.58%	-184.26%	159.96%	-79.53%	-183.03%	754.17%	-9.08%	-93.38%	177.35%	-121.05%	-897.26%	156.10%	-112.61%	320.34%				#NUM!	<-IRR #YR->	10	Cash Flow less WC	-102.76%	CDN$
5 year Running Average	$3,028	$3,118	$2,231	$1,746	$904	$254	$90	$596	$420	$416	$441	$157	$8	-$10	-$33				#NUM!	<-IRR #YR->	5	Cash Flow less WC	-141.18%	CDN$
CFPS Excl. WC CDN$	$5.89	$3.56	-$2.99	$1.78	$0.37	-$0.30	$1.95	$1.74	$0.11	$0.31	-$0.06	-$0.63	$0.35	-$0.04	$0.10				#NUM!	<-IRR #YR->	10	CF less WC 5 Yr Run	-100.56%	CDN$
Increase	-29.86%	-39.58%	-183.88%	159.71%	-79.23%	-181.57%	746.57%	-10.85%	-93.46%	171.80%	-120.66%	-887.11%	155.42%	-112.46%	320.34%				#NUM!	<-IRR #YR->	5	CF less WC 5 Yr Run	-102.34%	CDN$
5 year Running Average	$5.58	$5.79	$4.18	$3.33	$1.72	$0.49	$0.16	$1.11	$0.78	$0.76	$0.81	$0.29	$0.02	-$0.02	-$0.06				#NUM!	<-IRR #YR->	10	CFPS - Less WC	-102.44%	CDN$
P/CF on Med Price	6.74	3.38	-3.02	6.41	29.65	-30.94	6.78	7.59	87.67	57.52	-211.79	-11.21	17.76	-132.03	56.70				#NUM!	<-IRR #YR->	5	CFPS - Less WC	-138.27%	CDN$
P/CF on Closing Price	2.31	3.83	-3.70	7.59	27.83	-30.55	7.95	6.69	59.44	44.55	-135.25	-8.30	10.86	-145.91	51.44				#NUM!	<-IRR #YR->	10	5 yr Running	-100.48%	CDN$
*Operational Cash Flow per share CDN$				CF/-WC	P/CF Med	10 yr	7.81	5 yr	-11.51	P/CF Med	10 yr	7.19	5 yr	-11.21		615.83%	Diff M/C		#NUM!	<-IRR #YR->	5	5 yr Running	-102.05%	CDN$
				-528.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	596.2								Shares
									-554.2	0.0	0.0	0.0	0.0	596.2								Shares
				-$813	$0	$0	$0	$0	$0	$0	$0	$0	$0	$17								Cash Flow		US$
									-$26	$0	$0	$0	$0	$17								Cash Flow		US$
				-$1.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.03								Cash Flow per Share		US$
									-$0.05	$0.00	$0.00	$0.00	$0.00	$0.03								Cash Flow per Share		US$
				-$3.77	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.07								CFPS 5 yr Running		US$
									-$0.54	$0.00	$0.00	$0.00	$0.00	-$0.07								CFPS 5 yr Running		US$
				-$754	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$18								Cash Flow less WC		US$
									-$47	$0	$0	$0	$0	-$18								Cash Flow less WC		US$
				-$1,756	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$5								CF less WC 5 Yr Run		US$
									-$321	$0	$0	$0	$0	-$5								CF less WC 5 Yr Run		US$
				-$1.43	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.03								CFPS - Less WC		US$
									-$0.08	$0.00	$0.00	$0.00	$0.00	-$0.03								CFPS - Less WC		US$
				-$3.35	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.01								CFPS 5 yr Running		US$
									-$0.59	$0.00	$0.00	$0.00	$0.00	-$0.01								CFPS 5 yr Running		US$
				-$1,017	$0	$0	$0	$0	$0	$0	$0	$0	$0	$24								Cash Flow		CDN$
									-$35	$0	$0	$0	$0	$24								Cash Flow		CDN$
				-$1.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.04								Cash Flow per Share		CDN$
									-$0.06	$0.00	$0.00	$0.00	$0.00	$0.04								Cash Flow per Share		CDN$
				-$3.82	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.09								CFPS 5 yr Running		CDN$
									-$0.71	$0.00	$0.00	$0.00	$0.00	-$0.09								CFPS 5 yr Running		CDN$
				-$943	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$26								Cash Flow less WC		CDN$
									-$63	$0	$0	$0	$0	-$26								Cash Flow less WC		CDN$
				-$1,746	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$10								CF less WC 5 Yr Run		CDN$
									-$420	$0	$0	$0	$0	-$10								CF less WC 5 Yr Run		CDN$
				-$1.78	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.04								CFPS - Less WC		CDN$
									-$0.11	$0.00	$0.00	$0.00	$0.00	-$0.04								CFPS - Less WC		CDN$
				-$3.33	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.02								CFPS 5 yr Running		CDN$
									-$0.78	$0.00	$0.00	$0.00	$0.00	-$0.02								CFPS 5 yr Running		CDN$
Accounts receivable, net			$1,381	$469	$200	$157	$49	-$9	$18	$29	$44	$18.0	-$79.0	$25.0
Other receivables			$124	$55	$47	$17	-$44	$52	$5	-$11	$0	$13.0	-$9.0	$11.7
Inventories			$359	$123	-$21	$117	$23	$0
Income tax receivable			$224	$204	$166	-$17	$2	$17	$3	-$4	$1	$6.0	-$1.0	$2.0
Other current assets			-$26	$116	$257	$45	$16	-$1	$2	$55	$15	-$1.0	-$53.0	-$16.0
Accounts payable			-$590	-$240	$14	-$167	-$82	-$15	-$17	-$11	$2	$2.0	-$7.0	$14.2
Accrued liabilities			-$251	-$550	-$304	-$99	-$36	-$21	-$15	-$20	-$16	-$11.0	-$21.0	$6.4
Income taxes payable					$9	-$9	$4	-$2	$1	-$15	$5	$9.0	$8.0	-$2.9
Deferred revenue			$38	-$118	-$255	-$147	-$44	-$36	-$18	-$79	-$50	-$29.0	$7.0	-$5.9
Sum			$1,259	$59	$113	-$103	-$112	-$15	-$21	-$56	$1	$7.0	-$155.0	$34.5
Google --> TD			$1,259	$59	$113	-$103	-$112	-$15	-$21	-$56	$1	$7	-$155	$35
Difference			$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
TD			$1,259	$59	$113	-$103	2020->	-$26
Difference			$0	$0	$0	$0
OPM	15.80%	20.80%	-2.33%	24.38%	11.90%	-17.11%	75.54%	77.88%	2.50%	9.18%	-3.90%	-40.09%	-0.35%	4.45%	8.03%				-81.73%	<-Total Growth	10	OPM		CDN$
Increase	-21.56%	31.67%	-111.22%	1144.57%	-51.19%	-243.82%	541.42%	3.10%	-96.79%	267.30%	-142.47%	-928.06%	99.12%	1366.33%	80.32%					Should increase		or be stable.		CDN$
Diff from Ave.	354.3%	498.2%	-167.1%	601.1%	242.2%	-592.2%	2072.6%	2139.9%	-28.1%	164.1%	-212.2%	-1253.1%	-110.1%	28.1%	131.0%				0.00	<-Median->	10	OPM		CDN$
*Operational Profit Margin (CF/Revenue) Ratio										OPM	10 Yrs	3.48%	5 Yrs	-0.35%					should be	zero, it is a		check on calculations		CDN$
															$91	<-12 mths	36.47%
EBIT										$98.0	-$69.0	-$94.0	$36.0	$66.9	$68.3	$82.2	$237.3
Change											-170.41%	-36.23%	138.30%	85.83%	2.02%	20.37%	188.86%
Margin										10.97%	-9.61%	-14.33%	4.22%	12.51%	13.13%	14.54%	9.16%
															$108	<-12 mths	27.79%
Adjusted EBITDA					$433	$182	$155	$186	$149	$154	-$8	-$71	$57	$84.2	$81	$95	$119		-80.55%	<-Total Growth	9	Adjusted EBITDA		US$
Change						-57.97%	-14.84%	20.00%	-19.89%	3.36%	-105.19%	-787.50%	180.28%	47.72%	-4.18%	17.56%	25.36%		-14.84%	<-Median->	9	Change		US$
Margin					20.05%	13.90%	16.63%	20.58%	14.33%	17.25%	-1.11%	-10.82%	6.68%	15.74%	15.52%	16.79%	4.59%		15.03%	<-Median->	10	Margin		US$
Long Term Debt US$ (Debentures)				$1,707	$1,277	$591	$782	$665	$0	$720	$507	$0	$194	$195.3	$195.6							Debt		US$
Change					-25.19%	-53.72%	32.32%	-14.96%	-100.00%	0.00%	-29.58%	-100.00%	0.00%	0.67%	0.15%				-20.08%	<-Median->	10	Change		US$
Debt/Market Cap Ratio				0.36	0.30	0.14	0.13	0.14	0.00	0.12	0.13	0.00	0.12	0.07	0.09				0.12	<-Median->	10	% of Market C.		US$
Assets/Current Liabilities Ratio				4.80	5.33	5.38	8.15	8.34	3.47	6.57	6.47	2.30	3.92	3.76	4.78				5.36	<-Median->	10	Assets/Current Liabilities Ratio		US$
Debt to Cash Flow (Years)				2.10	4.97	-2.64	1.11	0.94	0.00	8.78	-18.11	0.00	-64.67	11.84	4.69				0.47	<-Median->	10	Debt to Cash Flow (Years)		US$
Long Term Debt CDN$				$2,135	$1,712	$783	$1,005	$882	$0	$913	$644	$0	$263	$282.0	$268.4							Debt		CDN
Change					-19.81%	-54.27%	28.35%	-12.26%	-100.00%	0.00%	-29.46%	-100.00%	0.00%	7.16%	-4.83%				-16.03%	<-Median->	10	Change		CDN
Debt/Market Cap Ratio				0.30	0.32	0.16	0.12	0.14	0.00	0.12	0.13	0.00	0.12	0.07	0.09				0.12	<-Median->	10	Debt/Market Cap Ratio		CDN
Assets/Current Liabilities Ratio				4.80	5.33	5.38	8.15	8.34	3.47	6.57	6.47	2.30	3.92	3.76	4.78				5.36	<-Median->	10	Assets/Current Liabilities Ratio		CDN
Debt to Cash Flow (Years)				2.10	4.97	-2.64	1.11	0.94	0.00	8.78	-18.11	0.00	-64.67	11.84	4.69				0.47	<-Median->	10	Debt to Cash Flow (Years)		CDN
Intangibles US$	$304	$3,430	$1,242	$1,375	$1,213	$602	$477	$1,068	$915	$771	$522	$203	$154	$47.3	$44.2				-2807%	<-Total Growth	10	Intangibles		US$
Goodwill				$76	$618	$559	$569	$1,463	$143	$849	$844	$595	$562	$472.4	$476.9				-23.56%	<-Total Growth	10	Goodwill		US$
Total	$304	$3,430	$1,242	$1,451	$1,831	$1,161	$1,046	$2,531	$2,352	$1,620	$1,620	$1,620	$1,620	$1,620.0	$1,582.0				12%	<-Total Growth	10	Total		US$
Change		1028.29%	-63.79%	16.83%	26.19%	-36.59%	-9.91%	141.97%	-7.07%	-31.12%	0.00%	0.00%	0.00%	0.00%	-2.35%				0.00%	<-Median->	10	Change		US$
Intangbles/Market Cap Ratio	0.04	0.45	0.29	0.31	0.43	0.28	0.17	0.53	0.84	0.26	0.41	0.73	0.99	0.62	0.74				0.48	<-Median->	10	% of Market C.
Intangibles CDN$	$301	$3,522	$1,378	$1,720	$1,626	$798	$613	$1,416	$1,229	$978	$663	$276	$209	$68.3	$60.6				-2418%	<-Total Growth	10	Intangibles		CDN$
Goodwill				$95	$829	$741	$731	$1,940	$192	$1,077	$1,073	$810	$762	$682.1	$654.3				-17.68%	<-Total Growth	10	Goodwill		CDN$
Total	$301	$3,522	$1,378	$1,815	$2,455	$1,538	$1,344	$3,356	$3,159	$2,055	$2,059	$2,205	$2,197	$2,339.0	$2,170.5				29%	<-Total Growth	10	Total		CDN$
Change		1070.65%	-60.88%	31.74%	35.26%	-37.34%	-12.61%	149.67%	-5.89%	-34.94%	0.18%	7.11%	-0.35%	6.44%	-7.20%				-0.09%	<-Median->	10	Change		CDN
Intangbles/Market Cap Ratio	0.04	0.49	0.24	0.25	0.46	0.31	0.16	0.53	0.84	0.26	0.41	0.72	0.98	0.62	0.74				0.49	<-Median->	10	% of Market C.		CDN
Current Assets US$	$7,056	$7,101	$5,057	$4,167	$3,011	$1,691	$2,548	$1,194	$1,196	$1,006	$1,043	$743	$508	$591.5	$533.2				Liquidity ratio of 1.5 and up, best					US$
Current Liabilities	$3,389	$3,448	$2,268	$1,363	$1,039	$606	$464	$471	$1,121	$429	$397	$729	$356	$344.3	$253.4				2.22	<-Median->	10	Ratio		US$
Liquidity Ratio	2.08	2.06	2.23	3.06	2.90	2.79	5.49	2.54	1.07	2.34	2.63	1.02	1.43	1.72	2.10				1.72	<-Median->	5	Ratio		US$
Assets US$	$13,731	$13,165	$7,552	$6,549	$5,534	$3,263	$3,780	$3,929	$3,888	$2,818	$2,567	$1,679	$1,395	$1,295.6	$1,210.4				Debt Ratio of 1.5 and up, best					US$
Liabilities	$3,631	$3,705	$3,927	$3,118	$2,326	$1,206	$1,275	$1,293	$1,359	$1,314	$1,011	$822	$619	$575.7	$485.3				2.52	<-Median->	10	Ratio		US$
Debt Ratio	3.78	3.55	1.92	2.10	2.38	2.71	2.96	3.04	2.86	2.14	2.54	2.04	2.25	2.25	2.49				2.25	<-Median->	5	Ratio		US$
Book Value US$	$10,100	$9,460	$3,625	$3,431	$3,208	$2,057	$2,505	$2,636	$2,529	$1,504	$1,556	$857	$776	$719.9	$725.1	$725.1	$725.1		-79.02%	<-Total Growth	10	Book Value		US$
Book Value per Share	$19.27	$18.05	$6.88	$6.49	$6.16	$3.88	$4.67	$4.82	$4.56	$2.66	$2.70	$1.47	$1.32	$1.21	$1.22	$1.22	$1.22		-81.39%	<-Total Growth	10	Book Value per Share		US$
Change	12.94%	-6.34%	-61.85%	-5.75%	-5.13%	-37.01%	20.36%	3.19%	-5.24%	-41.72%	1.53%	-45.48%	-10.54%	-8.32%	0.72%	0.00%	0.00%		22.53%	P/B Ratio		Current/10 Year Median		US$
P/B Ratio (Median)	1.99	0.67	1.60	1.52	1.39	1.84	2.26	2.08	1.64	4.51	4.10	3.74	3.43	2.55	3.18				3.43	P/B Ratio		Historical Median		US$
P/B Ratio (Close)	0.76	0.80	1.17	1.38	1.31	2.00	2.46	1.83	1.11	4.10	2.54	2.60	2.11	3.64	2.94	2.94	2.94		-15.48%	<-IRR #YR->	10	Book Value per Share	-81.39%	US$
Change	-76.56%	4.95%	46.59%	17.27%	-4.51%	52.07%	23.28%	-25.93%	-39.01%	268.50%	-37.98%	2.26%	-18.86%	72.24%	-19.04%	0.00%	0.00%		-23.35%	<-IRR #YR->	5	Book Value per Share	-73.54%	US$
Leverage (A/BK)	1.36	1.39	2.08	1.91	1.73	1.59	1.51	1.49	1.54	1.87	1.65	1.96	1.80	1.80	1.67				1.69	<-Median->	10	A/BV		US$
Debt/Equity Ratio	0.36	0.39	1.08	0.91	0.73	0.59	0.51	0.49	0.54	0.87	0.65	0.96	0.80	0.80	0.67				0.69	<-Median->	10	Debt/Eq Ratio		US$
Sharerholders Equity (Assets less liabilities)										P/BV	10 yr Med	2.40	5 yr Med	3.74		22.53%	Diff M/C		1.39	Historical	29	A/BV		US$
				-$6.49	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.21
									-$4.56	$0.00	$0.00	$0.00	$0.00	$1.21
Current Assets CDN$	$6,983	$7,291	$5,609	$5,212	$4,037	$2,240	$3,274	$1,583	$1,606	$1,276	$1,325	$1,011	$689	$854.0	$731.6				Liquidity ratio of 1.5 and up, best					CDN$
Current Liabilities	$3,354	$3,540	$2,516	$1,705	$1,393	$803	$596	$625	$1,505	$544	$505	$992	$483	$497.1	$347.7				2.22	<-Median->	10	Ratio		CDN$
Liquidity Ratio	2.08	2.06	2.23	3.06	2.90	2.79	5.49	2.54	1.07	2.34	2.63	1.02	1.43	1.72	2.10				1.72	<-Median->	5	Ratio		CDN$
Liq. with CF aft div						2.42	7.01	4.03	1.09	2.54	2.56	0.66	1.42	1.77	2.27
Assets CDN$	$13,588	$13,517	$8,377	$8,191	$7,419	$4,323	$4,858	$5,210	$5,221	$3,575	$3,262	$2,285	$1,892	$1,870.6	$1,660.7				Debt Ratio of 1.5 and up, best					CDN$
Liabilities	$3,593.2	$3,804.1	$4,356	$3,900	$3,118	$1,598	$1,639	$1,715	$1,825	$1,667	$1,285	$1,119	$840	$831.2	$665.8				2.52	<-Median->	10	Ratio		CDN$
Debt Ratio	3.78	3.55	1.92	2.10	2.38	2.71	2.96	3.04	2.86	2.14	2.54	2.04	2.25	2.25	2.49				2.25	<-Median->	5	Ratio		CDN$
Book Value CDN$	$9,995	$9,713	$4,021	$4,291	$4,301	$2,725	$3,219	$3,495	$3,396	$1,908	$1,977	$1,167	$1,053	$1,039	$995	$995	$995		-75.78%	<-Total Growth	10	Book Value		CDN$
Book Value per Share	$19.07	$18.53	$7.64	$8.12	$8.25	$5.14	$6.00	$6.39	$6.13	$3.37	$3.43	$2.00	$1.79	$1.74	$1.67	$1.67	$1.67		-78.52%	<-Total Growth	10	Book Value per Share		CDN$
Change	14.37%	-2.82%	-58.79%	6.28%	1.69%	-37.75%	16.76%	6.47%	-4.04%	-44.95%	1.72%	-41.61%	-10.85%	-2.41%	-4.29%	0.00%	0.00%		7.44%	P/B Ratio		Current/10 Year Median		CDN$
P/B Ratio (Median)	2.08	0.65	1.18	1.41	1.33	1.82	2.21	2.07	1.63	5.28	3.95	3.53	3.48	3.30	3.26				3.48	P/B Ratio		Historical Median		CDN$
P/B Ratio (Close)	0.71	0.74	1.45	1.67	1.25	1.80	2.59	1.83	1.10	4.09	2.52	2.61	2.13	3.65	2.96	2.96	2.96		-14.26%	<-IRR #YR->	10	Book Value per Share	-78.52%	CDN$
Change	-81.60%	3.13%	96.74%	15.30%	-25.12%	43.82%	44.20%	-29.53%	-39.50%	270.00%	-38.33%	3.74%	-18.65%	71.50%	-18.85%	0.00%	0.00%		-22.23%	<-IRR #YR->	5	Book Value per Share	-71.55%	CDN$
Leverage (A/BK)	1.36	1.39	2.08	1.91	1.73	1.59	1.51	1.49	1.54	1.87	1.65	1.96	1.80	1.80	1.67				1.69	<-Median->	10	A/BV		CDN$
Debt/Equity Ratio	0.36	0.39	1.08	0.91	0.73	0.59	0.51	0.49	0.54	0.87	0.65	0.96	0.80	0.80	0.67				0.69	<-Median->	10	Debt/Eq Ratio		CDN$
Sharerholders Equity (Assets less liabilities)										P/BV	10 yr Med	2.76	5 yr Med	3.53		7.44%	Diff M/C		1.39	Historical	29	A/BV
				-$8.12	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.74
									-$6.13	$0.00	$0.00	$0.00	$0.00	$1.74
															-$32.6	<-12 mths	110.29%
Total Comprehensive Income US$	$1,214	-$690	-$5,877	-$319	-$193	-$1,215	$412	$89	-$165	-$1,084	$6	-$739	-$120.8	-$83.9					73.70%	<-Total Growth	10	Comprehensive Income		US$
Increase	-63.76%	-156.84%	-751.74%	94.57%	39.50%	-529.53%	133.91%	-78.40%	-285.39%	-556.97%	100.55%	-12416.67%	83.65%	30.55%					30.5%	<-Median->	5	Comprehensive Income		US$
5 Yr Running Average	$2,046	$1,649	$101	-$464	-$1,173	-$1,659	-$1,438	-$245	-$214	-$393	-$148	-$379	-$421	-$404					-12.50%	<-IRR #YR->	10	Comprehensive Income	73.70%	US$
ROE US$	12.0%	-7.3%	-162.1%	-9.3%	-6.0%	-59.1%	16.4%	3.4%	-6.5%	-72.1%	0.4%	-86.2%	-15.6%	-11.7%					-12.65%	<-IRR #YR->	5	Comprehensive Income	49.15%	US$
5Yr Median	32.9%	31.7%	12.0%	-7.3%	-7.3%	-9.3%	-9.3%	-6.0%	-6.0%	-6.5%	0.4%	-6.5%	-15.6%	-15.6%					-1.38%	<-IRR #YR->	10	5 Yr Running Average	12.93%	US$
% Difference from NI	4.3%	6.8%	0.1%	4.9%	-7.2%	0.7%	1.7%	-4.3%	8.6%	-1.8%	-50.0%	0.7%	-7.2%	6.2%					13.53%	<-IRR #YR->	5	5 Yr Running Average	-88.59%	US$
Median Values										Diff	5, 10 yr	-0.6%	-1.8%	-1.8%					-15.6%	<-Median->	5	Return on Equity		US$
				$319	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$84
									$165	$0	$0	$0	$0	-$84
				$464	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$404
									$214	$0	$0	$0	$0	-$404
Current Liability Coverage Ratio	0.92	0.53	-0.63	0.55	0.14	-0.20	1.76	1.53	0.04	0.32	-0.07	-0.37	0.43	-0.05	0.16							CFO / Current Liabilities		US$
5 year Median	1.05	1.05	0.92	0.55	0.53	0.14	0.14	0.55	0.14	0.32	0.32	0.04	0.04	-0.05	-0.05				-0.05	<-Median->	5	Current Liability Cov Ratio		US$
Asset Efficiency Ratio	22.74%	13.81%	-18.78%	11.51%	2.60%	-3.71%	21.59%	18.30%	1.21%	4.90%	-1.13%	-16.08%	10.90%	-1.39%	3.45%							CFO / Total Assets		US$
5 year Median	27.41%	27.41%	22.74%	13.81%	11.51%	2.60%	2.60%	11.51%	2.60%	4.90%	4.90%	1.21%	1.21%	-1.13%	-1.13%				-1.1%	<-Median->	5	Return on Assets		US$
Return on Assets US$	8.48%	-4.91%	-77.77%	-4.64%	-3.76%	-36.96%	10.71%	2.37%	-3.91%	-39.18%	0.47%	-43.72%	-9.33%	-6.10%	2.88%				Net	Income/Assets		ROA		US$
5Yr Median	23.48%	23.36%	8.48%	-4.64%	-4.64%	-4.91%	-4.64%	-3.76%	-3.76%	-3.91%	0.47%	-3.91%	-9.33%	-9.33%	-6.10%				-9.3%	<-Median->	5	ROA		US$
ROE US$	11.52%	-6.83%	-162.01%	-8.86%	-6.48%	-58.63%	16.17%	3.53%	-6.01%	-73.40%	0.77%	-85.65%	-16.78%	-10.97%	4.80%				Net Inc/	Shareholders' equity		ROE		US$
5Yr Median	32.32%	32.22%	11.52%	-6.83%	-6.83%	-8.86%	-8.86%	-6.48%	-6.01%	-6.01%	0.77%	-6.01%	-16.78%	-16.78%	-10.97%				-16.8%	<-Median->	5	ROE		US$
															-$35	<-12 mths	55.57%
Net Income US$	$1,164	-$646	-$5,873	-$304	-$208	-$1,206	$405	$93	-$152	-$1,104	$12	-$734	-$130.2	-$79.0	$34.81	$58.19	$79.55		74.01%	<-Total Growth	10	Net Income		US$
Increase	-65.88%	-155.50%	809.13%	-94.82%	-31.58%	479.81%	-133.58%	-77.04%	-263.44%	626.32%	-101.09%	-6216.67%	-82.26%	-39.32%	-144.06%	67.16%	36.71%		EPS/CF Ratio should not be higher than 1.00					US$
5 Yr Running Average	$2,043.7	$1,655.8	$102.6	-$449.6	-$1,173.4	-$1,647.4	-$1,437.2	-$244.0	-$213.6	-$392.8	-$149.2	-$377.0	-$421.6	-$407.0	-$179.3	-$170.0	-$7.3		-12.61%	<-IRR #YR->	10	Net Income	74.01%	US$
Operating Cash Flow	$2,912	$2,303	-$159	$813	$257	-$224	$704	$704	$26	$82	-$28	-$263	-$3	$17					-12.27%	<-IRR #YR->	5	Net Income	48.03%	US$
Investment Cash Flow	-$3,024	-$2,240	-$1,040	-$1,173	-$439	$724	-$630	-$375	-$188	-$65	$207	$176	$46.6	$60.7					-0.99%	<-IRR #YR->	10	5 Yr Running Average	9.47%	US$
Total Accruals	$1,276	-$709	-$4,674	$56	-$26	-$1,706	$331	-$236	$10	-$1,121	-$167	-$647	-$174	-$156					13.76%	<-IRR #YR->	5	5 Yr Running Average	-90.56%	US$
Total Assets	$13,731	$13,165	$7,552	$6,549	$5,534	$3,263	$3,780	$3,929	$3,888	$2,818	$2,567	$1,679	$1,395	$1,296						Balance Sheet		Assets		US$
Accruals Ratio	9.29%	-5.39%	-61.89%	0.86%	-0.47%	-52.28%	8.76%	-6.01%	0.26%	-39.78%	-6.51%	-38.53%	-12.46%	-12.06%					-12.46%	<-Median->	5	Ratio		US$
EPS/CF Ratio	0.37	-0.35	4.15	-0.41	-3.11	10.08	0.49	0.11	-3.77	-8.07	6.16	2.91	-0.85	4.31					0.30	<-Median->	10	EPS/CF Ratio
				$304	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$79
									$152	$0	$0	$0	$0	-$79
				$450	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$407
									$214	$0	$0	$0	$0	-$407
Financial Cash Flow	-$149	-$36	$1,224	$16	-$78	-$722	$2	$5	$7	-$227	$10	$6	-$165.0	$3.1						C F Statement		Financial Cash Flow		US$
Total Accruals	$1,425	-$673	-$5,898	$40	$52	-$984	$329	-$241	$3	-$894	-$177	-$653	-$9	-$159								Accruals		US$
Accruals Ratio	10.38%	-5.11%	-78.10%	0.61%	0.94%	-30.16%	8.70%	-6.13%	0.08%	-31.72%	-6.90%	-38.89%	-0.63%	-12.30%					-12.30%	<-Median->	5	Ratio		US$
															-$45	<-12 mths	63.08%
Total Comprehensive Income CDN$	$1,201	-$708	-$6,519	-$399	-$259	-$1,610	$529	$118	-$222	-$1,375	$8	-$1,006	-$163.9	-$121.1					69.64%	<-Total Growth	10	Comprehensive Income		CDN$
Increase	-63.30%	-158.97%	-820.14%	93.88%	35.15%	-522.07%	132.89%	-77.71%	-287.76%	-520.57%	100.55%	-13292.83%	83.71%	26.07%					26.1%	<-Median->	5	Comprehensive Income		CDN$
5 Yr Running Average	$2,158	$1,763	-$22	-$630	-$1,337	-$1,899	-$1,651	-$324	-$288	-$512	-$188	-$495	-$552	-$532					-11.24%	<-IRR #YR->	10	Comprehensive Income	69.64%	CDN$
ROE CDN$	12.0%	-7.3%	-162.1%	-9.3%	-6.0%	-59.1%	16.4%	3.4%	-6.5%	-72.1%	0.4%	-86.2%	-15.6%	-11.7%					-11.38%	<-IRR #YR->	5	Comprehensive Income	45.33%	CDN$
5Yr Median	32.9%	31.7%	12.0%	-7.3%	-7.3%	-9.3%	-9.3%	-6.0%	-6.0%	-6.5%	0.4%	-6.5%	-15.6%	-15.6%					-1.69%	<-IRR #YR->	10	5 Yr Running Average	15.64%	CDN$
% Difference from NI	4.3%	6.8%	0.1%	4.9%	-7.2%	0.7%	1.7%	-4.3%	8.6%	-1.8%	-50.0%	0.7%	-7.2%	6.2%					13.01%	<-IRR #YR->	5	5 Yr Running Average	-84.29%	CDN$
Median Values											Diff	5, 10 yr	-0.6%	-1.8%					-15.6%	<-Median->	5	Return on Equity		CDN$
				$399	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$121
									$222	$0	$0	$0	$0	-$121
				$630	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$532
									$288	$0	$0	$0	$0	-$532
Current Liability Coverage Ratio	0.92	0.53	-0.63	0.55	0.14	-0.20	1.76	1.53	0.04	0.32	-0.07	-0.37	0.43	-0.05	0.16							CFO / Current Liabilities		CDN$
5 year Median	1.05	1.05	0.92	0.55	0.53	0.14	0.14	0.55	0.14	0.32	0.32	0.04	0.04	-0.05	-0.05				-0.05	<-Median->	5	Current Liability Cov Ratio		CDN$
Asset Efficiency Ratio	22.74%	13.81%	-18.78%	11.51%	2.60%	-3.71%	21.59%	18.30%	1.21%	4.90%	-1.13%	-16.08%	10.90%	-1.39%	3.45%							CFO / Total Assets		CDN$
5 year Median	27.41%	27.41%	22.74%	13.81%	11.51%	2.60%	2.60%	11.51%	2.60%	4.90%	4.90%	1.21%	1.21%	-1.13%	-1.13%				-1.1%	<-Median->	5	Return on Assets		CDN$
Return on Assets	8.5%	-4.9%	-77.8%	-4.6%	-3.8%	-37.0%	10.7%	2.4%	-3.9%	-39.2%	0.5%	-43.7%	-9.3%	-6.1%	2.9%				Net	Income/Assets		ROA		CDN$
5Yr Median	23.5%	23.4%	8.5%	-4.6%	-4.6%	-4.9%	-4.6%	-3.8%	-3.8%	-3.9%	0.5%	-3.9%	-9.3%	-9.3%	-6.1%				-9.3%	<-Median->	5	ROA		CDN$
ROE CDN$	11.5%	-6.8%	-162.0%	-8.9%	-6.5%	-58.6%	16.2%	3.5%	-6.0%	-73.4%	0.8%	-85.6%	-16.8%	-11.0%	4.8%				Net Inc/	Shareholders' equity		ROE		CDN$
5Yr Median	32.3%	32.2%	11.5%	-6.8%	-6.8%	-8.9%	-8.9%	-6.5%	-6.0%	-6.0%	0.8%	-6.0%	-16.8%	-16.8%	-11.0%				-16.8%	<-Median->	5	ROE		CDN$
															-$48	<-12 mths	57.78%
Net Income CDN$	$1,152	-$663	-$6,514	-$380	-$279	-$1,598	$520	$123	-$204	-$1,400	$15	-$999	-$176.6	-$114.1	$47.76	$79.84	$109.14		70.00%	<-Total Growth	10	Net Income		CDN$
Increase	-65.44%	-157.58%	882.14%	-94.16%	-26.66%	472.93%	-132.58%	-76.31%	-265.52%	586.08%	-101.09%	-6651.78%	-82.32%	-35.41%	-141.87%	67.16%	36.71%		EPS/CF Ratio should not be higher than 1.00					CDN$
5 Yr Running Average	$2,157	$1,770	-$20	-$615	-$1,337	-$1,887	-$1,650	-$323	-$287	-$512	-$189	-$493	-$553	-$535	-$245	-$232	-$11		-11.34%	<-IRR #YR->	10	Net Income	70.00%	CDN$
Operating Cash Flow	$2,881.7	$2,364.6	-$176.4	$1,016.9	$344.6	-$296.8	$904.7	$933.5	$34.9	$104.0	-$35.6	-$358.0	-$4.1	$23.8					-10.99%	<-IRR #YR->	5	Net Income	44.12%	CDN$
Investment Cash Flow	-$2,993	-$2,300	-$1,154	-$1,467	-$589	$959	-$810	-$497	-$252	-$82	$263	$240	$63	$88					-1.38%	<-IRR #YR->	10	5 Yr Running Average	12.95%	CDN$
Total Accruals	$1,262.7	-$728.0	-$5,184.4	$70.0	-$34.9	-$2,260.1	$425.4	-$312.9	$13.4	-$1,422.0	-$212.2	-$880.7	-$235.7	-$225.5					13.23%	<-IRR #YR->	5	5 Yr Running Average	-86.16%	CDN$
Total Assets	$13,588	$13,517	$8,377	$8,191	$7,419	$4,323	$4,858	$5,210	$5,221	$3,575	$3,262	$2,285	$1,892	$1,871						Balance Sheet		Assets		CDN$
Accruals Ratio	9.29%	-5.39%	-61.89%	0.86%	-0.47%	-52.28%	8.76%	-6.01%	0.26%	-39.78%	-6.51%	-38.53%	-12.46%	-12.06%					-12.46%	<-Median->	5	Ratio		CDN$
EPS/CF Ratio	0.37	-0.35	4.15	-0.41	-3.11	10.08	0.49	0.11	-3.77	-8.07	6.16	2.91	-0.85	4.31					0.30	<-Median->	10	EPS/CF Ratio		CDN$
				$380	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$114
									$204	$0	$0	$0	$0	-$114
				$615	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$535
									$287	$0	$0	$0	$0	-$535
Change in Close	-78.95%	0.22%	-18.93%	22.53%	-23.86%	-10.48%	68.36%	-24.97%	-41.94%	103.69%	-37.27%	-39.42%	-27.48%	67.37%	-22.33%	0.00%	0.00%			Count	29	Years of data
up/down	Down	Down	Up	Up			Up	Down	Up		Up	Up	Up	Up	Up					Count	26	89.66%
Meet Prediction?	Yes			Yes			Yes	Yes						Yes					% right	Count	10	38.46%
Financial Cash Flow	-$147.5	-$37.0	$1,357.7	$20.0	-$104.6	-$956.5	$2.6	$6.6	$9.4	-$287.9	$12.7	$8.2	-$223.8	$4.5						C F Statement		Financial Cash Flow		CDN$
Total Accruals	$1,410.2	-$691.0	-$6,542.1	$50.0	$69.7	-$1,303.6	$422.8	-$319.6	$4.0	-$1,134.0	-$224.9	-$888.9	-$11.9	-$230.0								Accruals		CDN$
Accruals Ratio	10.38%	-5.11%	-78.10%	0.61%	0.94%	-30.16%	8.70%	-6.13%	0.08%	-31.72%	-6.90%	-38.89%	-0.63%	-12.30%					-12.30%	<-Median->	5	Ratio		CDN$
Cash US$	$1,527	$1,549	$1,579	$1,233	$957	$734	$816	$582	$426	$218	$406	$322	$200.5	$280.3	$292.5							Cash		US$
Cash per Share	$2.91	$2.96	$3.00	$2.33	$1.84	$1.38	$1.52	$1.06	$0.77	$0.39	$0.70	$0.55	$0.34	$0.47	$0.49				$0.47	<-Median->	5	Cash per Share		US$
Percentage of Stock Price	19.82%	20.45%	37.11%	26.11%	22.70%	17.85%	13.22%	12.10%	15.13%	3.53%	10.26%	14.44%	12.24%	10.71%	13.70%				10.71%	<-Median->	5	% of Stock Price		US$
Cash CDN$	$1,511	$1,590	$1,751	$1,542	$1,283	$972	$1,049	$772	$572	$277	$516	$438	$272	$405	$401							Cash		CDN$
Cash per Share	$2.88	$3.03	$3.33	$2.92	$2.46	$1.83	$1.95	$1.41	$1.03	$0.49	$0.90	$0.75	$0.46	$0.68	$0.67				$0.68	<-Median->	5	Cash per Share		CDN$
Percentage of Stock Price	21.20%	22.26%	30.10%	21.54%	23.88%	19.86%	12.57%	12.09%	15.25%	3.55%	10.35%	14.37%	12.15%	10.67%	13.63%				10.67%	<-Median->	5	% of Stock Price		CDN$
Notes:
July 20, 2025.  Last estimates were for 2025, 2026, 2027 of $604M, $658M, $2376M US$ Revenue, -$0.04, $0.04, $0.11 US$ AEPS, -$0.14, -$0.02, $0.03 US$ EPS,
$33.14, $34.39, $37.75 US$ FCF, -$0.01, $0.07 US$ 2025/6 CFPS, $4M, $40M, $75M US$EBITDA, -$89.5M, -$20M, $17.1M US$ Net Income.
July 28, 2024.  Last estimates were for 2024, 2025, 2026 of $860M, $791M, $1541M US$ Revenue, $0.02, $0.04, $0.19 US$ AEPS, -$0.18, -$0.11, -$0.07 US$ EPS,
-$43.6M, $24.5M, $7.27M US$ FCF, -$0.23, -$0.01, $0.07 US$ CFPS, -$113M, -$59.2M, -$34.1M US$ Net Income.
July 23, 2023.  Last estimates were for 2023 and 2024 of $954M US$2023 for Revenue, -$0.23 and -$0.28 US$ for AEPS, -$0.18, -$0.16 US$ for EPS,
$110M and $164M US$ for FCF, $0.18 and $0.33 US$ for CFPS, and -$100M and $32M US$ for Net Income.
July 28, 2022.  Last estimates were for 2022, 2023 and 2024 of $782M, $954M 2022-23 US$ for Revenue, -$0.40, -$0.18 and $0.06 US$ for EPS,
$0.19, $0.18 and $0.33 US$ for CFPS, -$277M, -$100M and $32M US$ for Net Income.
July 25, 2021.  Last estimates were for 2021, and 2022 of $952M, $10794M US$ for Adj Revenue,  $955M, $1059M US$ for Revenue,
-$1.20 and -$0.08 US$ for EPS, -$143M and $132M US$ for FCF, $0.14 and $0.03 US$ for CFPS and -$720M and -$92M US$ for Net Income.
August 2, 2020.  Last estimates were for 2020, 2021 and 2022 of $1135M, $1247M and $1339M US$ for Revenue, $959M and $1060M US$ for 2020 and 2021 for Adj Revenue,
-$0.10 and -$0.01 US$ for 2020 and 2021 for EPS, $0.18 and $0.26 for CFPS US$ for 2020 and 2021 and -$72.3M and -$47M US$ for Net Income for 2020 and 2021.
August 8 2019.  Last estimates were for 2019, 2020 and 2021 of $892M, $959M and $1060M for Revenue US$, -$0.28, $0.02 and -$0.24 for EPS US$,
$0.34, $0.25 and $0.69 for CFPS US$ and $-151M, $13.7M and -$135M for Net Income US$
August 10, 2018.  Last estimates were for 2018, 2019 and 2020 of $ 1016M, $932M and $989M for Revenue US$, $0.49, $0.03 and -$0.39 for EPS US$,
0.19, $0.36 and $0.19 for CFPS US$, $424M, -$87M and -$219M US$ for Net Income.
October 2017, Blackberry moves from Nasdaq BBRY to NYSE and BB symbol.
August 13, 2017.  Last estimates were for 2017, 2018 and 2019 of $1681M, $1566M and $1488M US$ for Revenue, -$0.88, -$0.19 and -$0.27 for EPS US$,
$0.36, $0.17 and $0.27 for CFPS, -$617M, -$182M and -$142M for Net Income US$.
August 14, 2016.  There is a difference in basic and diluted EPSThe first was a loss of $0.40 and the second was a loss of $0.86. The difference is because the company
used the dilutive effect of the Debentures using the if-converted method, assuming conversion at the beginning of fiscal 2016 for the year ended February 29, 2016.
August 14, 2016.  Last estimates were for 2016, 2017 and 2018 of $3027M, $2538M and $1809M for Revenue US$, -$0.05, -$0.07 and -$0.37 for EPS US$,
$1.13, $1.35 and -$0.27 for CFPS US$ and -$103M, -$83M and -$138M for Net Income US$.
August 15, 2015.  Last estimates were for 2015 and 2016 of $3420M and $5384M US$ for Revenue, -$0.68 and -$0.10 US$ for EPS, $1.58, and $1.07 US$ for CFPS,
-$373M and -$157M US$ for Net Income.
July 27, 2014.  Last estimates were for 2014, 2015 and 2016 of $12.406M, 11080M and $12120M US$ for Revenue, $0.23, -.04 and $0.89 US$ for EPS, $2.65, $2.76 and $1.66 US$ for CFPS.
June 15, 2013.  Last estimates for for 2012 and 2013 of 18,879M and $17,877M US$ for Revenue, $4.11 and $2.93 US$ for EPS and $5.77 and $4.70 US$ for CFPS.
Effective the start of trading on Monday, February 4, 2013, the ticker symbol for Research In Motion will change to BB on the Toronto Stock Exchange and BBRY on the NASDAQ.
Old Symbols were RIM for Toronto and RIMM for Nasdaq.
Feb 5, 2012.  Last estimates I got were $5.66 and $5.90 US$ for EPS and $7.20 and $7.36US$  for Cash Flow.
With the reports of 2011, you can see net income going down quarter by quarter.  Same with Cash Flow.
May 28, 2010.  When I last looked at this stock, I got estimates for 1010 and 2010 of $4.24 and $5.20US$  for earnings and $4.35 and $4.23 for CF US$
Nov 11, 2009.  When I looked at this stock in Jun 2009, I got earnings for 2010 and 2011 of $4.10 and $4.90 US$ ($4.75 and $5.68 CDN$ at exch of 1.1588)
June 23, 2009.  when I looked at this stock in Sep 2008 I got estimates earnings for 2009 of $3.30US$ and 2010 $3.82 US$.  Earnings did come in at $3.30US$ for 2009.
AP 2008 - This stock is still doing very well.  P/E is still very high.  Accrual Ratio is also high, but it has not been predictive of stock movement.  This stock is going to continue to go up well it is
highly liked my the market.
AR 2007-  It has done much better in US $ than CDN$.  However, it is still making money, but P/E is very high.
AR 2005  P/E is really high again.  Seems to be doing ok at present.
AR 2004  I know it was a high risk tech stock when I bought it.  It might still do fine.
IPO Oct 28, 1997   Fiscal Year in 2002 = March 2, 2002
Sector:
Tech
What should this stock accomplish?
Would I buy this company and Why.
Not now.  I think that this is not a stock I could profit from owning at this time.
Why am I following this stock.
I always liked tech stocks and this was a fast rising tech stock when I bought it.
Why I bought this stock.
I bought this stock for capital gain.  I first bought it in 1999 and then some more in 2000.  I sold some in 2006 and 2007 to lock in some profit.
I sold the rest of my stock in 2010.
Dividends
No dividends
How they make their money
BlackBerry Ltd. provides intelligent security software and services to enterprises and governments worldwide.
BlackBerry aligned its software and services business around 2 key market opportunities: Cyber Security and IoT.
Mike Lazaridis owns almost 6% of the outstanding shares and is selling them off.  Part of this sell off goes to Charity.  He was co-founder of company with Jim Balsillie.  Jim owns almost as much as Mike does.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	Aug 13	2017	Aug 13	2018	Aug 08	2019	Aug 02	2020	Jul 27	2021	Jul 27	2021	Jul 27	2021	Jul 28	2024			Jul 20	2025
Giamatteo, John Joseph													0.076	0.01%	0.206	0.03%			0.530	0.09%			157.23%
CEO - Shares - Amount														$0.291		$1.311				$2.619
Options - percentage													0.746	0.13%	3.345	0.56%			5.741	0.96%			71.62%
Options - amount														$2.835		$21.276				$28.361
Chen, John	1.931	0.36%	3.381	0.62%	6.271	1.13%	6.783	1.20%	7.225	1.25%	9.002	1.55%	9.448	1.60%								Ceased insider Nov 2023
CEO & Chairman		$30.008		$39.426		$42.454		$93.540		$62.498		$47.172		$35.901
Options - percentage	9.750	1.82%	16.500	3.01%	10.000	1.80%	9.000	1.59%	8.000	1.39%	4.000	0.69%	3.000	0.51%
Options - amount		$151.515		$192.390		$67.700		$124.110		$69.200		$20.960		$11.400
Foote, Time																			0.035	0.01%			#DIV/0!
CFO - Shares - Amount																				$0.175
Options - percentage																			0.690	0.12%			#DIV/0!
Options - amount																				$3.409
Rai, Steve							0.016	0.00%	0.003	0.00%	0.025	0.00%	0.053	0.01%	0.091	0.02%
CFO - Shares - Amount								$0.220		$0.024		$0.128		$0.200		$0.579
Options - percentage							0.226	0.04%	0.146	0.03%	0.168	0.03%	0.322	0.05%	0.524	0.09%
Options - amount								$3.111		$1.260		$0.878		$1.223		$3.335
Dickman, Marjorie Jill													0.067	0.01%	0.087	0.01%			$0.11	$0.00			27.70%
Officer - Shares - Amount														$0.254		$0.554				$0.00
Options - percentage													0.140	0.02%	0.218	0.04%			$0.18	$0.00			-17.60%
Options - amount														$0.532		$1.385				$0.00
Eriksson, Mattias									0.000	0.00%	0.027	0.00%	0.065	0.01%	0.214	0.04%			0.285	0.05%			32.89%
Officer - Shares - Amount										$0.000		$0.140		$0.246		$1.364				$1.408
Options - percentage									0.293	0.05%	0.374	0.06%	0.368	0.06%	0.559	0.09%			0.795	0.13%			42.09%
Options - amount										$2.534		$1.961		$1.400		$3.557				$3.925
Cook, Randall					0.002	0.00%	0.013	0.00%	0.030	0.01%	0.048	0.01%										last update Apr 2022
Officer - Shares - Amount						$0.014		$0.177		$0.257		$0.254
Options - percentage					0.139	0.02%	0.127	0.02%	0.082	0.01%	0.061	0.01%
Options - amount						$0.938		$1.747		$0.709		$0.318
Kurtz, Philip Simon													0.005	0.00%	0.018	0.00%			0.061	0.01%			230.30%
Officer - Shares - Amount														$0.020		$0.117				$0.300
Options - percentage													0.243	0.04%	0.290	0.05%			0.463	0.08%			59.90%
Options - amount														$0.924		$1.843				$2.289
Beard, Martin James	0.123	0.02%																				Ceased Insider Dec 2017
Officer - Shares - Amount		$1.907
Options - percentage	0.346	0.06%
Options - amount		$5.374
Daniels, Michael Alan									0.026	0.00%	0.026	0.00%	0.026	0.00%	0.026	0.00%						Ceased insider Feb 2025	-100.00%
Director - Shares - Amount										$0.226		$0.137		$0.099		$0.166
Options - percentage									0.172	0.03%	0.201	0.03%	0.245	0.04%	0.307	0.05%							-100.00%
Options - amount										$1.491		$1.052		$0.930		$1.953
Bahash, Lisa																			0.000	0.00%
Director - Shares - Amount																				$0.000
Options - percentage																			0.077	0.01%
Options - amount																				$0.380
Watsa, V. Prem	0.129	0.02%	0.129	0.02%	0.129	0.02%	0.129	0.02%	0.129	0.02%	0.129	0.02%	0.129	0.02%								Watsa is head of
Director - Shares - Amount		$2.005		$1.504		$0.873		$1.779		$1.116		$0.676		$0.490								Fairfax
Options - percentage	0.075	0.01%	0.095	0.02%	0.120	0.02%	0.159	0.03%	0.191	0.03%	0.218	0.04%	0.259	0.04%								Ceased insider Feb 2024
Options - amount		$1.159		$1.107		$0.809		$2.195		$1.651		$1.143		$0.985
Brace, Philip															0.035	0.01%			0.035	0.01%			0.00%
Director - Shares - Amount																$0.223				$0.173
Options - percentage															0.062	0.01%			0.125	0.02%			103.44%
Options - amount																$0.391				$0.618
Lynch, Richard John													0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Chairman- Shares - Amount														$0.000		$0.000				$0.000
Options - percentage													0.282	0.05%	0.358	0.06%			0.438	0.07%			22.08%
Options - amount														$1.072		$2.279				$2.161
Fairfax Financial Holdings Limited	48.659	9.07%	49.682	9.08%	44.662	8.06%	47.451	8.39%	47.451	8.23%	47.451	8.15%	47.451	8.05%								updated Dec 2022	#DIV/0!
10% holder _Watsa		$756.16		$579.296		$302.363		$654.344		$410.448		$248.641		$180.312
Convertible Debentures		$464.88		$500.000		$500.000		$500.000		$330.000												Debentures at 3.75%
Increase in O/S Shares	8.689	1.64%	7.794	1.45%	10.261	1.87%	4.550	0.82%	8.402	1.49%	8.566	1.49%	4.969	0.85%	0.403	0.07%			5.835	0.98%
due to SO		$80.199		$121.119		$119.643		$30.804		$115.864		$74.096		$26.038		$1.531				$37.111
Book Value		$59.000		$53.000		$68.000		$3.000		$12.000		$3.000		$34.000		$34.000				$25.600		Includes stock based
Insider Buying		-$0.149		-$0.125		-$0.095		-$0.925		$0.000		$0.000		$0.000		-$0.155				$0.000
Insider Selling		$30.869		$29.724		$48.344		$4.995		$9.063		$34.639		$4.187		$3.469				$2.177
Net Insider Selling		$30.720		$29.599		$48.249		$4.070		$9.063		$34.639		$4.187		$3.314				$2.177
% of Market Cap		0.37%		0.46%		1.29%		0.05%		0.18%		1.14%		0.19%		0.09%				0.07%
RSU - restricted share Units
Directors	8		8		8		8		9		8		8		8				7
Women	2	25%	2	25%	2	25%	3	38%	3	33%	2	25%	2	25%	2	25%			3	43%
Minorities	1	13%	1	13%	1	13%	1	13%	1	11%	1	13%	1	13%	0	0%			0	0%
Institutions/Holdings	531	63.48%	297	57.61%	290	49.96%	20	48.27%	20	45.58%	20	45.15%	20	43.96%	20	69.86%			20	43.86%
Total Shares Held	337.091	63.54%	309.405	56.53%	273.874	49.42%	264.504	46.77%	258.182	44.81%	260.602	44.76%	256.409	43.52%	412.270	69.15%			260.741	43.73%
Increase/Decrease	11.964	3.68%	-10.985	-3.43%	-8.097	-2.87%	-11.124	-4.04%	7.328	2.92%	3.483	1.35%	7.129	2.86%	64.542	18.56%			77.808	42.53%
Starting No. of Shares	325.127	Nasdaq	320.390	Nasdaq	281.971	Nasdaq	275.628	Nasdaq	250.855	Top 20 MS	257.119	Top 20 MS	249.280	Top 20 MS	347.728	Top 20 MS			182.932	Top 20 MS
Copyright © 2008 Website of SPBrunner. All rights reserved.
My stock
																			30/12/99	-$6,524.00		$10.87	600	Pension
																			13/11/07	$10,698.01		$106.98	100
																			13/11/10	$31,585.01		$84.57	500
																			18/04/00	-$6,329.00		$31.65	200	RRSP
																			25/09/06	$19,759.90		$98.80	200
																			20.18%	XIRR
																				$12,853.00		Cost of Stock
																				$62,042.92		Sale of Stock
																				482.71%		Capital Gains/Loss
																			Start Date	30-Dec-99		$16.07
																			End date	13-Nov-10		$77.55
																			Years	10.87		482.71%
																			30/12/99	-$6,524.00		If I had kept my shares.
																			18/04/00	-$6,329.00
																			20/07/25	$3,952.00			800
																			-4.53%	XIRR
																			Start Date	30-Dec-99
																			End date	20-Jul-25
																			Years	25.55