virtual pbx now on mnf website, page-10

Whatever data medium is out there companies like ENG, FRE & MNF will find a way to attach to it and deiver services.

In these troubled financial times that are going to continue, it is safe investing in companies that make a profit. MNF is clearly one of these.

ENG has great potential, I will say that. But, to date it has been a maasive user of red ink in it's financial reports. This is my point. In 2 years time it may or may not be a different story.

Whilst I can see that ENG could get up and run, I am concerned that the largest shareholder being Seven is predatory, they do not want to own just 58% of ENG, they will want the lot if it is as good as you say and at a SP that is low. Seven have ZERO incentive to help the SP of ENG go up.

Look at the last Cap raising, seven managed to snare another 30% (can't recall the exact percentage) of ENG with a 3c placement. What makes you think they won't do this again shortly to further increase their holdings.

Whilst ENG might one day be a great business, I do not think what will happen in the next 6 months will benefit ENG shreholders with the exception of Seven.

I stand by my call that there WILL likely be another ENG cap raising in coming months on the basis that ENG will need cash either for operational expenses or to invest in replacing their aging VOIP backend and Seven will again get the opportunity to add another 20+% to it's holdings on it's way to an eventual total takeover. Not a share I want to be in when this comes around.

Remember, these cap raisings are not dead money spent by Seven, it is money they would have had to spend anyway in order to A) capture the subscriber base/revenue & B) Invest in new technology for the business for the future.