The first half of the year has been one of investment in Spiritel Technologies
and we look forward to reaching profitability during the second half of the
current financial year. Through this investment we have developed a VoIP
platform, complemented by call termination, and we have also established, and
continue to establish strategic routes to market. We anticipate significant
revenues from our VoIP products in the year to 31 April 2007. In the past few
weeks, we have been encouraged by the appetite among resellers for selling VoIP
products and by our pipeline of further potential strategic partners, giving us
confidence in our future prospects. Our growth strategy will remain focussed on
organic and acquisitive growth and we continue to evaluate potential
acquisitions to leverage the Company's product and skill sets and to further
extend routes to market.
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