Ann: Appendix 4C - quarterly, page-65

Short term there is some uncertainty re high market cap but I anticipate revenue growth will continue at rapid pace and this will ultimately drive the SP safely through any dilution. I'm not going to try and time any short term dips in the SP by selling now. I'll hold and if there are dips due to dilution I'll look to accumulate more.

Ultimately, I think the growth potential, cash flow positive likely occuring at end of this quarter and then profitability after that will continue to demand a premium SP/MC.


Something else I really like from reviewing recent 4Cs

1. Cash outflows seem pretty fixed at around $1.7m to $1.8m a quarter.

2. Their prediction in the Dec 4C of cash outflow for the March quarter was very close to the reality. I'm therefore confident that their cash outflow prediction in the March 4C will be accurate for the June 4C.

Lots of small caps future cash outflow predictions in their 4Cs are often wildly inaccurate often underestimating their cash burn for upcoming quarters. ISX are not doing that and are maintaining steady and accurate cash out flows quarter to quarter.

I agree that a voluntary escrow period from the beneficiaries of the performance shares vesting would be a great sign of good will and investor relations. Possibly this is something we could drive together and each contact the company suggesting it?