XTD, page-9

Actually Embark has not sucked any money out of XTD for some time, but as they own over 50% of the business, they have to show their expenses on top of XTD's. If they raise more capital for Embark and dilute XTD's holding this will allow them to exclude Embarks financials, which will make the business look more profitable.

Whilst Embark have been able to increase users quickly they haven't been able to persuade other outdoor media company yet to use the technology to any great degree. So the promise to monetise so far hasn't planned out. Another broken promise from this organisation.

I think the market just doesn't trust management anymore, so they can say what they like but the only thing that will change sentiment will be actual numbers and contact wins. It could change very quickly if they were successful in winning a decent contract overseas, but who knows when this will happen if ever.

Its been very disappointing but in my eyes they look to be a huge takeover target so I am not selling. If a bigger company was to buy XTD they could cut out all the running costs with revenues dropping to the bottom line.