Ann: Norwood Moves into Next Phase of World Phone Growth, page-31

I like this announcement for a number of reasons:

1. It demonstrates they are showing some more sense and maturity as a company. They are taking time to assess the market and recalibrate their product. They know they have a marketable product, and they are taking the time to get it right.

2. A lower spend on advertising (which is a very large expense for this company) should see cash burn reduce significantly, giving them more breathing space to negotiate deals and hold off on raising any more capital.

3. They once again emphasised the active discussions and negotiations with other telcos. Anything could happen here, and at any time. Very encouraging.

Overall, very solid.