mul to become newsat limited, page-9

As a long time suffering shareholder, I do hope and pray that Newsat name will help this beast. the only thing that has kept me going is that the acquisition of newskies being profitable and that all the businesses are now cash postive, well that what they say, means that Newsat has to be profitable. combined with the fact that it has some $80m in accumulated tax losses, wont need to pay tax for some time has not needed to raise any more cash to fund operations - the last capital raising was in relation to the finalisation of the funding arrangement for the Newskies purchase and not for operations, and given the average purchase of the last lot of shares is higher than the current share price, meaning cornell partners have kept their shares and not had a ramp and dump occur after such issues in the last couple of months it should show a profit at least the last six months.

If you purchase a business with a after tax profit of $5.4 million it has to be earnings positve. Just awaiting for the 2005/06 results.

hopeful