Ann: MIGGSTER Subscriptions Update, page-42

Some updated back-of-napkin figures showing current uptake. Way too many unknown variables to make any accurate predictions but this is just for some wild speculation.

Assumptions used:
- 5.5m pre-registrations (half of the 11m number put out there)
- Company expenses increase to $500k per quarter
- EM1's cut of Miggster revenue is 64.5% of the total revenue after prize money (there may be other expenses)

- Tax of 30%
- P/E of 10 (relatively low)
- $0 revenue from other sources
- EM1 doesn't pay for prizes until the 100k subs reached
- Current run rate column is based on the % uptake from the 925k emails sent and applied to the 5.5m pre-registrations