Ann: Appendix 4D and Half Yearly Report, page-9

Interesting they have actually managed to sell some Zuuse shares. Sounds like $700 to $800K so that's really a miss on EBITDA from the core business. I confirmed with Craig that 35% of the $10.6M of the pipeline revenue bridge is recurring revenue. To continually reaffirm guidance means he must be pretty certain $10.6M of pipeline revenue will be converted to revenue. Market has decided he won't meet the guidance and a small miss is priced into the stock now. Catalysts are announcement of acquisitions and meeting guidance. EV/EBITDA multiple now 7 . Wildcard is trade sale of all Zuuse shares.