Ann: Appendix 4C - quarterly, page-85

The two Filipinos I personally know are both remitting funds to family back home. I think they nearly all do it.

And the latest census shows there are approx 250,000 people (but far fewer family groups) in Australia who were born in the Philippines . If you then add all those people born in Australia of Filipino descent, many of whom would also be remitters, you get an idea of the potential market for the international remittances business .

There are also about 50,000 people in NZ who were born in the Philippines. After Australia, that is the next international remittances market for PIL to conquer.

Even though those numbers sound small the strategic benefit to PIL of the international remittances business is compelling.

Anyone in the Philippines who wants to receive funds from someone in OZ or NZ must necessarily adopt PIL technology . And when those funds then get spent in the Philippines in any number of ways (including payments to other family members and businesses) all of those recipients in turn will also be encouraged to adopt PIL technology.

And so it goes; the Bizmoto network keeps on getting bigger, driving more and more connections.

Any potential competitor to PIL without international remittances will be left floundering.