Ann: Crowd Media Undertakes Refinancing of Debt Facility, page-30

I communicated with DC a few weeks ago prior to a board meeting and Directors fees was on the agenda. I communicated that not only I but all shareholders were of the opinion that the board were being paid excessively for the results produced and the fees should be aligned to results based and not pie in the sky fees plucked from what other companies may or may not be doing.

We will see soon enough in the coming half yearly the out come of the board meeting.

Your comment on "You don't think the shares are cheap", this to will be revealed in the half yearly figures.

I would have to believe that if revenues have remained flat in the mature businesses and they have managed to cut overheads by 10, 15 to 20% and the new division has kicked a few goals we may look a lot better moving forward.

If they have achieved this then IMO the shares are cheap, if not you may very well be correct.

I sincerely hope we will see the last of the losses and move forward expanding the new division and seeing some profits.

They have a massive base to leverage from.