Ann: Quarterly Report and Appendix 4C, page-4

Pretty qood quarterly report IMO

We have inventory of over $800K on hand and $600K+ of receivables

Sales for the quarter were $500K+ ... and that is before any of the major new contracts have hit the balance sheet. We know most of the Netsurion and AT&T stuff weren't negotiated till late in the quarter, so the big revs haven't started to flow yet.

The manufacturing debt facility appears to be in final stages, awaiting binding purchase order (assuming from Netsurion)



In the next few weeks therefore, I'd expect:-

- Netsurion deal to go binding. Find out minimum purchase order + management fees for SaaS
- Manufacturing debt facility to be announced
- R&D rebate to be received
- Gold asset to be awarded to CIO (they've had verbal offers of $2-5M already)

If CIO were to announce binding Netsurion deal of up to $6.9M + get awarded the Gold block this quarter, that would be well and truly company changing