live from agm, page-25

I was there as well...everything NEWTG has reported is correct, however I must say it was more of the same "trust me for just a feeeeww more months and all will be revealed"

AB is a great salesman, but not your traditional, well-rounded CEO (IMHO) - and he revealed he WON"T be stepping down on June 30 2010 as previously announced - he's too valuable to the business at this point in time (his words) - I tend to agree, but they also need a CEO and directors with credibility if the broking/finance community is going to stand up and really take notice....people like Richard Green do help.

No $5M lump sum from Torchwood, cos they weren't able to re-new Woolworths deal for the term they desired....but it's OK, WOW is still a large client of NWT (spun like a champ)

Lots of talk about getting to SP of 3c, making us a $200M+ company and getting us entry into ASX/200 (they are now thinking/acting/positioning like an ASX/200 coy, so they say)

Average contract size of $20K somewhat contradicts all the talk of blue-chip clients, but at least they pay their bills

Lazard are absolutely there to help the 'politically position' themselves (AB's words)

Need more cash in the bank to allow the auditors to present the financials as 'Unqualified'

Expects a SPP to raise $2-3M to shore up cash position

Capital consolidation on their minds, but want revenue and profit to be very predictable before doing this (I agree)

My view was that he copped out on many of the questions asked by the audience, and was almost condescending to some poeple (maybe just his style, and some of the questions were REALLY dumb - think people had fallen asleep during the meeting)

When asked about EWC, he furrowed his brow and said "well, gee whiz, Starr and I had a fall-out 10 yrs ago over Starr's crappy technology; we've moved on, maybe he hasn't). I'm sure there is more to it, but he can't elaborate