Imint has been very successful in signing new agreements that include an increased number of features during the year. The recent reports, however, indicate that the average compensation received per phone has decreased rather rapidly. Hence, we argue that Imint's challenge in proving that it can monetize on its agreements remains. In this report, we have revised our forecasts and long-term assumptions based on how the compensation levels seem to have developed thus far, which brings an updated fair value range.