Ann: Quarterly Activities and Appendix 4C Cashflow Report, page-54

“ So... you won't commit to an exit date after 2 more years of nothing significant? “

Creaturemagic , as I don’t know what date Microsoft will complete a takeover of Norwood Systems , it is very hard for me to predict , however I think it will occur within the next 18 to 24 months , when the market cap is between 100 and 200 million . Metaswitch are currently promoting a commercial of the shelf ( cots ) platform and Norwood recently provided a slide indicating a 100 million dollars in annual recurring revenue , I don’t think they will let Norwood get to this size on the back of Microsoft’s clientele .

All in my opinion .....