agm and presentation, page-66

Goldy I think you are missing my motivation here

I'm happy with the way the company is being managed, my perceived communication problems have been resolved by management. The future has been planned out and is being actioned in a methodical way. There is a clear business strategy being shown that I believe is solid and fundamentally growth orientated.

The Anixter and Pitney Bowes partnerships are quality work with progress being shown. I can only expect that there will be further quality partnerships down the track (Gaming) going by the standard that this management is showing. Management are not trying to line there pockets with ridiculous upfront payment demands from partners (that was a big deal killer).

There are no leaked personal emails from the executive chairman's blackberry promising the world (or abusive ones for that matter). The fact that Mark Bouris has an understated style is actually preferable while the company sets its position for the future. Accelerated growth that is to fast for the company resources to keep up with in the beginning phases can be fatal.

For me I'm looking at this exactly as it is. We are a company with our first products new to market in the real world. I can hardly expect the market to go ooh wow they're worth $10.00 a share when we have only just climbed out of the deepest hole possible.

How can any one possibly predict the take up rate of PAD till it has been in the market for a year or two?
In a couple of years when the figures show how well we are doing, and real predictions can be made on the markets acceptance and take up of products, then the market will ooh and ahh and be able to believe the predictions.

Three months for the trial then when it is accepted it has to be installed in other locations. Perhaps the upfront capital payment for establishment of the system by customers will cover the production costs, but this is a recurring revenue based profit model (on-going monthly lease payments).

Predictions are necessarily conservative.

Perhaps this company's growth style does not suit a pump and dump style of trading that some want.

But it certainly suits my investment style which is to invest in companies that have solid growth plans and a long term future (expanding footprint/ recurring revenue) and at least I can believe management this time.

Do I think the stock is undervalued?----Yes

Do I think the company has a bright future?----Yes

Will I be taking up my rights?----Yes

There is nothing to make me believe this company is sinking any more.

This is why I am 'Investing' more money into this stock now. I believe the share price will rise in the future.

The shares will be issued whether any one likes it or not.

Me I like it.

Good luck and
Kindest regards to all