3rd quarter reort, page-5

re: etc agm -don't go off half cocked! I have received some information of late, in response to questions I have posed to Peter Dykes, and i am working on a cashflow projection going forward which I will make available here within the next few days.

Quite understandably, there has been alot of emotion expressed on this forum however, I have endeavoured to pick my way through the impact that the new business model / strategy will have on the company's financial performance in the future.

My cashflow analysis will provide useful guidleines to us shareholders but, I would share with you (at this early stage in my research and analysis), that the picture is looking quite promising.

With respect to the question...why was a loan provided to GalaVu, I agree that this should be put to the AGM in order to receive as full an explanation as possible however, at a headline level I would point you to the asx announcement dated April 05, 2005 in which we are told that "the investment injected by EMT [was] to close out critical development projects and to secure the capitalisation of the existing sales pipeline for a swift turnaround of existing installation contracts."

Until I have concluded my analysis, I shall continue to promote a HOLD recommendation.