Ann: M-Payments Partnership with PERFORM, page-25

havig

MBE have been building up their IP and experience for 10 years. They have a kind of first mover advantage and I am guessing that they know the top people in mobile worldwide.

They have said that they can and will bring on many new products as long as they are digital; meaning that MBE do not have to invest in any physical infrastructure. This is a great example of the type of products that they are bringing in and of how they can leverage off their existing IP and technology without massive upfront investment.

The other huge bonus for me is that this is always a win win for the players involved. Perform get more customers, the telcos get a clip off every transaction and MBE get their clip. With some products MBE will get a large clip because they own or have developed the product, with others the clip will be smaller because they are just the conduit.

All of these multiple revenue streams will soon start adding up.

These multiple revenue streams will also be coming from a massively growing customer base i.e.. Australia + Singtel + Swisscom + Russia + Telenor + Rest of Europe + USA ++++

I cannot find another company on the ASX that has the same potential, with similar leverage, that is already profitable. Very impressive Thorpey!!