I received this from the company late last Friday after emailing...

I received this from the company late last Friday after emailing them that morning expressing my concerns:


As far as the Company is concerned, nothing has changed in the last 2 weeks and nothing of concern came from the quarterly report.

The Company reiterated its intention to soon launch the ArcadeX product with a leading brand or brands. You will appreciate that this is a significant undertaking and that there are many moving parts which need to come together for the launch including: integration of content from the iCandy agreement and engaging their userbase; coming to an agreement with a leading brand or brands to launch with; and laying the groundwork for the GameCloud product.

It is likely that some shareholders and traders were looking for an indication of the timing of the launch and with no firm guidance on this, some have made a decision to sell. While this is disappointing, the Company is not influenced by short term share price movements in its decision making.

When the Company has a definitive timeline on the moving parts outlined (and other factors) it will provide an update to the market. In lieu of this firm guidance, shareholders should be encouraged by the forecast increase in marketing spend for the next quarter. The Company did note the incorrect Top 20 which was posted on HotCopper and the claims that directors and large shareholders sold – also incorrect. The Company has furnished any shareholders who have queried this with the correct information.