Ann: Company Update, page-33

1. The recurring revenue from the SaaS agreement with Netsurion is interesting. This could be a substantial figure I am told. There is no COGS attributable to this income and so margins are much higher.

2. $6.9Mil worth of CIO product over 3 years works out to $2.3Mil a year being purchased by Netsurion, which equals all of last years income.

3. The deal with AT&T could be as big as the Netsurion deal or bigger.

4. CIO have confirmed they should exceed last year's growth rate achieved of 367%. That would indicate earnings of $10Mil p.a this year

* Disclosure - i am buying at 2.3/2.4cps