Ann: Investor Presentation , page-2

I think the stand-out slide in this presentation is the M2M opportunities (Page 13). It is exciting to see NTC participating in these types of opportunities, the units are massive.

The first opportunity of 110,000 units should be SP AusNet where GridNet is firmly embedded and the trials should have commenced in October. I think its safe to assume that NTC will have that in the bag as I haven't seen SP AusNet engaging any other vendors apart from GridNet. It seems SP AusNet will be using a mix of 3G and WiMax which means they will not be saying goodbye to GridNet anytime soon. SP AusNet also mentioned that there needs to be standardization so the 110,000 units could become 600,000+ units in the future. Anyone have info to the contrary?

The second opportunity should be helped via Vodafone's 45% stake in Verizon.

It was also good to see NTC's confirmation that Vodafone revenue will commence in April in 2013.

Another point that was good NOT to see was words like "cautious", "unstable economic conditions", the sort of talk most companies include nowadays to cover themselves. If you have been following NTC over the past 18 months all the talk is positive.

The dividend suspension is still good news. I interpret that as NTC saying that the company can achieve more with any surplus funds than would be achieved in the pockets of the shareholders.

The M2M strategy and "coat-tails" approach is a game changer for NTC and the transition has already delivered results with minimal impact on financial results. NTC will not have to spend massive amounts winning work as their partners will do all that for them. Not a bad place to be.

With a market cap of $12M you can figure out the rest.