Ann: AGM Address by Chairman and CEO Presentation, page-58

The list of Aussie tech companies chasing Nasdaq glory is littered with failures. If Senetas approaches Nasdaq listing "to reach wider / international investor base" or "raise capital in deeper equity market" (ie looking to raise funds in USA coz Aussie investors are sick of continually stumping up more cash with no SP appreciation to show for it) then Nasdaq listing will surely fail. USA investors can and likely already have done, bought shares in Senetas on the ASX. If they like the story they can buy now. The excuse "USA funds / institutional investors cannot invest in ....." is crap and will quickly be shown to be thus if Microsoft indeed decide to resell the Senetas product as many IT industry insiders there will buy up asap. Senetas needs to monitor the overseas shareholdings on the register and when it gets to a certain size, lets say between 20 and 40% and if USA investors are begging Senetas to list in USA, then and only then list on NASDAQ. Only this will ensure that the listing goes well and Senetas is propelled into the stratisphere.