possible target, page-14

Thanks dcob. Ill take any compliment I can get...lol.

To be honest at this stage PIE is just a short term trade for me however these days most medium to longer term holds start out this way.

So I've done a little DD with a few questions that some maybe able to help me out with...

1. There website appears to be down. I'm trying www.pienetworks.com and also google but with no success. Was hoping to gain further insight into their products.

2. I noticed when Haspete posted his chart today on the DT thread he mentioned that he was concerned about their cash position. Also some others suggested a capital raising was upcoming. Cash position as at 31/12/09 was $840K with a net outflow for the Dec Qtr of $145K. R&D costs to 31/12/09 were considerably lower than the same time the year before and appears to be the main reason for the reduction in net loss. Given this and the additional NZ revenue that will be recognised this quarter surely their net outflow shouldn't be any worse? Any upcoming significant CAPEX expected with the current rollouts? Increased marketing costs maybe? My guess is that we should be safe from any CR for maybe the next 6 months? Also surely a potential Telstra partnership could provide a possible funding stream?

3. Just playing devils advocate here and would appreciate some response to the following statements. From their NZ Network rollout announcement - "The Company is approximately 50% through its roll-out of 69 Company owned second generation Hotspot Webphones in Westfield and AMP shopping centres in New Zealand...as Telecom New Zealands old style payphones are taken out." Aren't they taken out because most people have mobiles now? Sure it's a nice simple business model but can't these sponsored telephone/web services be adapted by standard G3 mobile phones and more so I suspect by next generation mobiles? As for net surfing, trading, and banking etc I do all of this on my iPhone already and I never exceed my monthly cap. Also as Australia is one of the most expensive mobile phone providers arent we destined to become cheaper? Could this be strong competition/threat?

4. Interesting directors Gunzburgs directorships include ASX, EUG, FWD, RSG etc....and Abery has plenty of Telco experience including Telstra and Vodaphone. BTW Gunzburg holds 102m ordinary shares, thats over 14%! I also notice that the top 20 hold 50% with Austsock holding 25m.

TIA

Arkie