Ann: Company Update , page-10

Glad Jens gone. some stuff I pulled from announcements

1.06 mill left end of Dec11.

Still cant Find the upfront payment from Speedx?

4C identifies below – which suggests to me all redundancies have been paid including Jen.

Current quarter includes salary payments to executive directors and director fees to nonexecutive directors while they held office. All staff were made redundant and received termination payments in the December quarter. Consequently cash outflows will reduce significantly in future quarters.

The Company’s assets now consist of intellectual property, including patents, cash and security deposits. In light of the cost reduction strategies undertaken, and having regard to the Company’s cash flow forecasts,

I particularly like the following?

the directors believe the Company has sufficient cash and sustainable cash flows to enable it to achieve its stated objectives. These objectives may be summarised as follows:

Last objective was....

ACQUISITION OPPORTUNITIES
Tyrian has engaged Mr Robert Fraser (ph +61 2 9377 1555) from TC Corporate to advise the Board on appropriate investment and acquisition opportunities. TC Corporate has extensive M&A and capital markets experience and has been assisting Tyrian during the restructure.

If they are talking Investment and Aquisition opportunities, and they believe the have the cashflows to fund this then they must be expecting an injection of funds from some where? wonder what that might be??

looks like more waiting....