Ann: Appendix 4C - quarterly, page-5

Numbers have not met expectations for me for this quarter.

$1m cash operating loss is, in my opinion, unacceptable after a subpar quarter in September.

The updates reveal a lot of fantastic information that frankly should have been delivered throughout the quarter.

A number of great developments have occurred yet again, with 2 new website launches and 3 new customers mentioned by name. Unfortunately though, shareholders are left worse off by the fact that these developments are lumped with the average numbers and not given space to breathe.

The company seems to be ticking more boxes, but there is a lot of ground to cover to show that we can be profitable.