Ann: Shareholder update and Board changes, page-39

Like most hot copper threads it is either boom or bust. I can’t help thinking it is never as good or as bad as what people say.

It looks like they chased Albert Cheok down a rabbit hole and it lead nowhere but the writing has been on the wall for nearly a year on that one. It isn’t the first rabbit hole that has lead nowhere but they have continued to survive.

The initial intention to focus on the unbanked market had huge potential. The motorbike riding thing has kind of sprung up and shown some potential but what is the overall potential? The loaning is interesting, something that again has huge potential in the ASEAN countries. I think they need to make a couple of minor changes. They need an executive with ASEAN experience to be based as an in Country Manager. Not an expat living in the Phillipines looking for a job but someone who understands the local politics - preferably and ex diplomat type. To achieve that they need to cut off some fat from the Australian operation. The Phillipines isn’t Australia and you’ve got to be on the ground to manage relationships. Sure you need to manage the relationships with the investors in Australia but the big picture is in the Phillipines. The latest board appointment suggests that the sole focus is the Australian investors.

Some things are going right. Some thing aren’t. Get the revenue in the and the investors will come.