dec qtr casflows out - and positive, page-14

On 28th Oct, ATC said revenue was USD$1M in 24 days. At the average .55 forex that is AUD$1.8M.

The reported revenue for Dec Q is AUD$4.2M. This says that the reveues dropped substantially after Oct, ie say USD$1.2M over more than 2 months. This is a concern, as this is a reversal of the trend that had been growing revenues over the pasdt year.

I wrote to Palermo in mid Jan to voice my concerns, and have received no response.

I wouldn't hold out for any compensation from legal action against FNT, this will just be a drain on the existing ATC resources & cash. I guess Mittens leaving the board is a clear indication that FNT is dead for good. I also think that we will hear in time that FNT will be in receivership as part of the Interoute collapse, as my research suggests it is still an asset of this company.