email from tz , page-14

Big,

There are quite a few "way down" with TZ.

In answer to your question I think TZ can still make it. The tech story has never changed for me, it's been the manner in which it has been given the opportunity to succeed.

I think our go to market strategy is right - we have partnered with the right intermediaries and aligned our product accordingly.

My main concern has and always has been cash flow. I think the company could have been doing more to preserve cash and I think in all honesty it has taken them longer to get strong commercial traction than they expected. As a consequence they have had to do a number of cash raisings and dilute holders.

I'm still hopeful but we need to see something concrete.