James and other have made valid points which we need to...

James and other have made valid points which we need to summarise:

1. Receipts from embedded networks grew from $504K to $540K quarter on quarter. That's growth of 7%. Whilst not high its a trend. From the commentary it implies but does not state this is the recurring or annuity revenue we are looking for. 7% per quarter would be a really great trend. It also talks to over $2m a year then.

2. Targets were not downgraded.

3. We havent yet started the UWS pilot so that $2m is still to flow. Given that we must have cracked the $3m that means hopefully the $8m is on track.

4. The latest 4c suggested we were there or there abouts in regard to profitability and even if we take out the $388k increase of creditors from sept to now the money in the bank still indicates that we should easily have enough to cover the gap until we are at break even or better.

5. Whilst we should be cautious of the non disclosure of debtors we also dont know other balance sheet movements so the increase in suppliers (creditors) could have been into stock.

6. The company is still finding ways to save money and is reducing its operational costs. Thats got to be good for the future.

7. All in all the 4c could have been better but in reality its probably as good as we should have expected - given what they have had to contend with. We need to give them credit for that and less of my focus on what they haven't disclosed.

8 Certainly it hasn't increased any of my concerns and has in some allayed some of my unfounded angst about this investment. That is caused because its over my normal risk profile (the size of the investment no the type of share or level of risk) so I am watching it far more closely.