General Discussion, page-717

Haven't they made it clear that the cash will be used to fund growth? The detailed facts will only be announced when they are signed sealed and delivered. The early birds will read between the lines and get the proverbial worm..

If you have been following the story you will know that Charles has learnt hard lessons when he bought the controller business and rushed into the JV with Power Eagle.

In recent times we have seen small steps in the subsequent negotiations:

* He slowly progressed a strategic alliance with Super Soco to a JV where VMT got rights to all their patents and moulds for naught and the exclusive rights to distribute Super Soco branded products everywhere except China. He didn't listen to all the posters on this forum who wanted an immediate merger. We would be up the creek without a paddle and a strong leader and focused direction if that had happened.

* He slowly built a working relationship with Malone by only offering him half the Italian Distributor opportunity. Which of course led to the Ducati badging agreement and the relationship with Castiglioni

* He slowly fostered the Italian relationships through the rebranding of Vmoto and the design of the Stash and the fleet bike and got comfortable with the people and their talents. Time well spent which resulted in Malone and Castiglioni becoming part of of the management team and fully integrated into VMT as shareholders. There is as always more, VMT ends up owning 100% of the Italian Distributor business and gains a more international management structure with a couple of Motor Bike Industry Legends helping to drive the agenda.

* He has known and worked for many years with the new recent substantial shareholder who has been appointed a director. Where is that leading.

* Whilst the main focus has been on becoming number one seller in Europe a huge amount of work has been happening designing product specifically for the Asian and American markets and finding best in class distributors in those regions.

Plenty of detail in fact as we travel down the growth path that is alluding our main competitors.