starting point, page-4

A few other points gijj,

1. Last year directors took options at $1, $2 and $3.

2. TZ has a cornerstone investor (QVT) with approx 20% but an option to take it to about 50%. QVT 1/2 of their convertible notes at $1.20

3. Capital was raised 5 months ago at 35c through a 1 for 3 rights issue. Hence the weight on the share price.

4. Patersons have a 75c valuation on TZL - See this recent coverage -

http://www.thebull.com.au/articles/a/18927-10-internet-and-it-stocks-to-watch.html

Many shareholders believe that the current value is between $2-$5. Reasons being:....

5. ...IPO was around $2.50. The price peaked at $7.20. The current status of the company is far in advance of when the company's price was at these aforementioned prices.