Ann: Corporate update and equity raising, page-69

The amount they are investing in IP is being capitalised and so far they have capitalised $56m in IP and $44m in Dev Costs (WIP), which are on their balance sheet with not a lot amortised. Their development is not a major contributor to their significant losses. I agree you need to invest in product, but not sure they have good enough stewardship of roadmap. An important thing to note though is only $9m of the $20m raised is going towards development, the rest of the $11.5m is going towards $6m for marketing and sales, $4.5m in working capital and $1m for transaction costs. These are sugar hits which should not being used when diluting shareholder value. They should be funded out of p&l. This reeks to me of a poker game in which a gambler is going all in, without a real great hand.