The market has spoken. Where are the buyers? Lets have a look at...

The market has spoken. Where are the buyers? Lets have a look at the announcement.

Operations

Revenue for Dec qtr currently US2.4mill. Oct 02 revenue was US1.2mill, which means Nov revenue will come it at say just above US1.2mill. Therefore, no more growth in core business.

Finally EBITDA positive, BUT if they fail to complete FNT, then they will still run out of cash before coming cash flow positive.

FNT

Good that only best endevours are needed to raise funds. The FNT vendor can now wait and get his money from trading profits.

Capital raising

Indicates funds are needed as there is a desire to migrate FNT traffic ASAP. What then has been going on over these last fews months. Was any preparation done to prepare for FNT traffic?

The company says its aware of dillutionary impact on existing shareholders on any equity issue. Wake up please, we have already been swamped with equity issues in the past plus they got thru 40mill more last month and want another 40mill tomorrow at the AGM!!

Board appointment and Investor Relations

Who is Albert Mackay?

Allelujah if Perth is closed and office moved to Sydney.

Overall, given all past disappointments, alot more needs to be said. Perhaps the FNT valuation and impact on company will do this.