agm summary ???, page-4

Very quiet on the Intermoco front - Am looking forward to seeing the Q2 numbers.

Expecting another decrease in SG&A partly due to the comments that they continue to reduce overheads & with Meehan now out of the picture.

But the big question - when will these stated numbers start flowing through to the P&L. I personally don't like the chart that represents the 'Annual Annuity Revenue'(see slide 7 of AGM?) as it does not give shareholders an indication of when this full potential will be realised - it could be another 9 months of losses. They should provide some type of projection based on current Go-Live dates of these projects whilst also phasing the up-take in as many of the current projects won't be live until late Q3.

Does anyone know what % uptake by tenants that Intermoco target within their embedded networks ? This would be useful information to report actuals vs target throughout the course of the year.