annual financials, page-13

"Hope you are wrong re MON analogue"

Personally I think IRL is here to stay and will in time be very sucessful. They are not only building a business but also commerical confidence with there Indian and Canadian partners.

This commerical confidence will bring to them work. Surda is only a small part of what potential lies in India. IRL is becoming much more than Surda.

Of course Surda appears to be a thinly profitable business but it is the doorway to bigger things both with HCL and other soon to be partners.

I am glad Mr Kiernan has been cut from the board and hopefully disconnected from any influence in the company. He could of taken IRL down but didn't. We survived just as TTY has. Now its up to the current board to work hard to build IRL up to a commerical success, this will come imo but will take considerable time and faith.

Cheers