The Director answers that question...Nicholas Stavropoulos made...

The Director answers that question...

Nicholas Stavropoulos made the following comment:

This is a highly advantageous result for Mooter and its shareholders. On the assumption that Mooter shareholders approve the acquisition of Hot Shot Media Pty Ltd and I have every confidence they will Mooter will pay out $1 million over the next number of months, but become entitled to get back the first $5 million of revenue.

Im pleased that several weeks of complex negotiations have now concluded and that an outstanding deal has been reached for the benefit of all Mooter shareholders. I believe that the value of the deal and the inclusion of incentive-driven milestones is a great result for the Company. Considering the price of our shares was below 1 cent not long before the Hot Shot involvement and that Mooter (through its ownership of Hot Shot Media Pty Ltd) will get the first $5 million of revenue as well as the exclusive advertising rights, the commerciality of the deal is, in my view, compelling."

JB