what's the latest, page-2

re: the latest Highlights:
• The company’s expectations for cost savings from the previously advised Business Re-Alignment Program (“BRP”) remain unchanged.
• The company has made significant progress in the rectification of problem projects brought into the merged business in June 2005. These problem projects have reduced Gross Margin in Q3 / Q4 2005 by approximately $1,180,000. The completion of this program in Q1 2006 is expected to impact earnings by approximately $150,000.
• The company has commenced a new marketing program, targeting the company’s services and solutions offerings to the Online Services requirements of its clients.
• The company reports strong market and client indicators of significant growth in spending in the Online Services space between 2005 and 2010. Specifically, expected growth in online advertising, mobile / 3G / wireless services, eCommerce and government online services will fuel growth in the Online Services Sector and thus demand for the company’s services and solutions. The company believes that these growth factors will drive as much as 37% CAGR in revenue.
• In response to this expected growth, the company has invested in specific areas of increased demand from clients. This investment will continue as the company reaches the scale and mix of resources required to support the growth targets for 2006 – 08.

• As a result, the company has provided revenue guidance for 2006, 2007 and 2008:
2006 $22,000,000
2007 $35,000,000
2008 $50,000,000

• The company advises that current revenue run rate is approximately $16 million per annum against current revenue capacity of approximately $21 million per annum. This revenue run rate reflects the redirection of resources and personnel to the rectification of problem projects discussed above. Additional capacity to support revenue and earnings targets will become available in Q1 2006.
• The company advises that business development activities initiated in Q3 and Q4 2005 have started to yield material increases in engagements for 2006. As of the date of this announcement, the company reports significant contract extensions / contract wins totalling almost $2.5 million in addition to existing engagements.
• The company announced on 24th November 2005 that it has raised $1,338,399.96 by way of an issue of 22,306,666 new shares at 6 cents per share to professional investors. Participants in the raising were 3 existing shareholders and 8 new shareholders in the company.
• This capital raising forms part of the ongoing balance sheet management program announced at the 2005 Annual General Meeting. The purpose of this program is to reduce existing debts (excluding loans from directors) and to provide working capital to support the growth of the business and product development.