Ann: Syntonic Investor Presentation-SYT.AX, page-108

I've said it before, I'll say it again.

No-one should be expecting big revenue numbers in the June Quarterly report.

Freeway has yet to launch in SEA or LA, (the download numbers tell us that).

Tata hasn't launched the white label product yet.

No new Telco's have signed up for the product yet either.

What we should see in the report & is very important going forward is the development costs. We'll get to see how much it cost to move from version 1.0 to version 2.0 of Freeway with all its enhancements.

If those cost continue to be in line with past expenses, then it will show that it's going to take very little in the way of revenue for the company to breakeven & as the business grows we're going to have a high gross profit margin on the revenue we get.

The September Quarterly report (provided Tata & full SEA Freeway launch have occurred in next few weeks) is where we should get our first real glimpse of the revenue side & its potential.

LOTM