christmas deadline passed

Ian Kiddle said on Oct 29, 2010:

"We are currently in negotiations with a view to resolving payment of the convertible note that becomes due in January and at this stage we are not expecting to have to raise additional capital. Intermoco is also in discussions with Energy Mad Limited concerning a sale of its shares in that company. No agreement has been entered into at this time, and the discussions may or may not lead to an agreement. Intermoco expects to be in a position to advise the market concerning an outcome of those discussions before Christmas.

"Our sales pipeline is the strongest we have seen and we are setting new internal records. Whilst we are experiencing delays in projects, they are only timing delays and the projects will come to fruition. We have four new embedded networks going live before Christmas and we are also working on a number of other large projects."

Christmas has come and gone and we have heard NOTHING about the Energy Mad Ltd sale and NOTHING about the "four new embedded networks going live before Christmas". Do we assume the four new networks are in fact dead and not live?

What are the company's plans for the $2.1M note due for repayment in January?