old news but worth a read

I was having a drink when I came accross this little snipet of info...and thought hmmmm a glance down memory lane might be in order, because most here probaly don't remember all the promises but for all the long term suffers we do !!!!!

BUT MAYBE JUST MAYBE THAT'S ALL ABOUT TO CHANGE?????

Multiemedia stock soars after satellite deal
August 5 2003
By Colin Kruger
Sydney


Shares in Multiemedia rocketed more than 57 per cent yesterday after the former dotcom reported a deal to provide its broadband via satellite service to customers of British internet service provider Transcom.

Multiemedia is contracted to provide its telecom services to the British company's customers in Australia and the Pacific rim. The deal is forecast to generate orders worth $15 million over the next year, said Multiemedia.

"We expect this to be a very profitable business over the next 12 months," said the company's chief executive, Adrian Ballantine.

The company would not offer any forecasts on how this would affect its profitability this financial year, but for the first half ending December 31 last year, Multimedia reported a profit of $518,000 on revenues of $14.5 million.

The news sent Multiemedia shares up 1.5� to 4.1� with 252 million changing hands, representing almost one-third of its issued shares.


The company has struggled in recent times, but shares have lifted from an all-time low of 0.7�in May this year after the company signed up partners for its satellite service including software giant Microsoft.

Investors will not be the only ones to prosper from the higher share price though. The company's shareholders are set to vote at a general meeting later this month to ratify an agreement which could deliver a bonanza to Mr Ballantine and independent director Clinton Starr.

The two provided $250,000 in funding to the company in April this year which they are looking to convert into equity at 1.25� a share.