Ann: Audited Financial Statement and Annual Report, page-25

Considerations.

1. Who is the driver of this company. All successful companies have a leader with drive and a vision.

2. As a shareholder, not sure what this vision is - at this point it seems to cultivate being a major agent for Oracle whilst making low cost acquisitions. Yes, all very wonderful and will keep those employed secure and safe with a nice income.

3. That is all very fine if you are operating a private company. But JCurve is a public company, there are shareholders expecting improvement in share price value. That means increasing revenue/profits and doing deals.

4. Low cost acquisitions are prudent and safe, but hardly the vision of a leader with an entrepreneurial vision of making a difference in the market of business management products.

5. The management team/board is now in a safe zone. All getting paid and no issues of any note.

6. However as a public company with shareholder funds, more is expected re performance. Its easy to be safe and batten down the hatches and live within the bubble. That is like having a job within the government.

The next 12 months will demonstrate that either this company is run by a conservative accountancy culture maintaining the status quo or a management culture prepare to take calculated risks, build a company with products and collaborations that have global applications.

I await there next announcement.