tnc valleyarm global partnership list, page-18

Rob,
Regarding point 1) You raised. As I said, the annual report shows consolidated revenue and assets for the TNC group. I suggest you google consolidated financial reports for further information. The $400k you mention is a part of the $1.599 mil JV funds received in the consolidated revenue report refer Note 5 in annual report.

In regards to point 2) I said the deal with Telstra and Nokia to not DIRECTLY impact on revenue, Valleyarms revenue is received from artists signing with them. There is no direct increase in revenue as a result of increase market audience for the artists. As I said in previous posts this may attract more artists to Valleyarm, but given other digital distribution companies offer greater exposure and a lower cost, I don't see any cause for excitement.

The royalty model in regards to i-Tunes sees 69c from each sale going to i-Tunes and $1 going to the artist. There is no direct revenue from any sales going to Valleyarm, so the number of partners or size of the partners have no direct impact on revenue. As per the announcement that you quoted "significantly increase Valleyarm's revenue and earning POTENTIAL."

I hope since my last post you have been able to do some research on the competition that you were previously unaware existed. Your post 5691949.

As you feel the need to question my research and statements maybe you would care to comment on Note 3.25 in the annual report and the auditors statement regarding ongoing operations.

Likewise if you could provide information as to where you obtained your knowledge that "A CR will occur but i have it on good knowlegde this will not occur until Valleyarm is well established and the SP is far higher than it is at current levels." From post 5696636.

Please direct me to the Liberty Mining accounts that you refer to in your last post. As opposed to the consolidated report as per the Annual report which I have referred to.

Regards,

JB