Ann: Preliminary Final Report , page-5

This is a cut and paste from todays announcement.---puts some depth into Toono earlier post.


Priority One Partnership GoConnect entered into an equal partnership agreement with Priority One on 16 November 2011.Under that agreement, GoConnect provided its IPTV intellectual property of uctv.fm to the value of $40 million as its contribution to the partnership while Priority One contributed 135 million shares of its own to the same value to the partnership. Under the agreement, GoConnect will help Priority One to establish 7 program channels on its uctv.fm IPTV network. The partnership with Priority One has taken on particular significance with a number of important Chinese partnerships. The partnership with IPS, amongst the top 5 largest payment gateway companies in Greater China, was formalised on 24 August 2012. The IPS China partnership and its partnership with Northvale Capital for the Indian subcontinent market will add significant enterprise value to Priority One.

First Mongolian Marketing Ltd (previously First Mongolian Media Ltd) On 4 May 2012, GoConnect Australia Pty Ltd formalised a Partnership Agreement with First Mongolian Investment Holdings Ltd. Under that Agreement, GoConnect Australia acquired a 51% interest in First Mongolian Marketing Ltd (“FM Marketing”) by contributing the intellectual property of uctv.fm incorporating Free WiFi Marketing Platform technology to the value of $41.65 million with First Mongolian Investment Holdings Ltd contributing $40 million of its share capital in return for its share of 49% of the FM Marketing. A Memorandum of Understanding was executed by FM Marketing and announced to the ASX on 25 June 2012, for an equal partnership between FM Marketing and MobiNet LLC, the largest broadband and mobile telecommunications company in Mongolia, to introduce GoConnect’s uctv.fm IPTV network and free WiFi marketing platform technology to the Mongolian market. The success of FM Marketing in enabling GoConnect to ‘export’ its IPTV and free WiFi marketing platform technology to Mongolia is continuing into the China market.

and read this carefully

FM Marketing is currently negotiating a partnership agreement with a major shopping centre management group that is ranked 127 in the world and 28 in Asia by revenue. This group has 40 shopping centres across China and over 13,000 retail establishments in the world with annual revenue of over US$50 billion. This agreement, if finalised, will initially extend GoConnect’s IPTV and free WiFi marketing platform to the China market. Success in this regard will expand GoConnect’s advertising audience reach to a size that will substantially exceed the total of what has been achieved to date by the Group in Australia. As at June 2012, China had 388 million smartphone users out of a 1 billion mobile phone user population. With early mover advantage, both GoConnect and the shopping centre management group are aiming to ‘monetise’ this smartphone user population in China which can be expected to grow rapidly towards the 1 billion user mark as mobile phone vendors switch to manufacture only smartphones.