Ann: iWebGate Completes Landmark Telstra Arrangement, page-8

From their last Presentation $10 per month $120 Per year minimum cost for IWG product. TLS made $1Billion from cloud and other NAS last year. They have invested heavily in cloud again, into an Australian market at $4.74B, and growing.

Putting rough numbers together, if you get 100,000 customers of TLS using IWG for a year, that is $12M in a year. I think 100,000 is being conservative as well, given they are operating in a growing market. You then have the US upside potential.

Let see where this goes when people take the time to sit down and understand the company.