conservative current valuation, page-14

paradigm

Yes conservative it is! And in terms of share price .. everyone gets excited that $6.00 is too high ... its really only $1.20 consolidated to $6.00.

Do you all remember ERG ... in 2000 it went to around $26 and spiked to $52 for a period of weeks. Not sure howe many shares were on issue so not sure about market cap .. but from memorry it wasa market darling with a cap over $10b. And all that was on the back of a smart card ticketing system that in the end struggled to make sales in Oz and internationally. TZ's allkications are far more broad based and global....and they have heaps of joint development and sales agreements and a NASDAQ listing in 2008. Way undervalued I say!!

H