Tadpole Technology, Endeavors Technology, Geospatial Solutions Division

Well today's news out of TAD is the exercising of warrants by Divestcap of 4,250,000 of the potential 17,000,000 warrants they have for shares in TAD at 1p per share.

Is this good news or bad news? Who can tell!

Well when you look at where TAD were just a few months ago it's lucky they are still in existence. Consultant to the company Peter Bondar the flying doctor has indeed flown in, had a look and started clearing up the mess of his predecessors Steig Westerberg (spit) and his predecessor Keith Bigsby (spit spit).

The opportunities that were there for TAD a few years back were all missed because the people holding the reins (eh Keith - jolly day out) had their own agendas and they had nothing to do with providing value to shareholders. Also (and I have said this on numerous occasions over on the iii BB) Steig and Keith were both accountants...................accountants are NOT salesmen, they are too busy counting beans to see opportunities or understand what is required to achieve sales!!!!!!!!!

The wind of change is blowing through Tadpole, Endeavors, Geospatial group just now and instead of a chill wind there seems to be some warmth in there now.

Positives

• Microsoft have agreed that Streaming patents belong to Tadpole/Endeavors. This came about due to them buying Softricity (a competitor to TAD) and by the looks of things the MS team not completing proper due diligence into what they were buying. [in my own humble opinion]

• Citrix have signed an agreement: The agreement grants Citrix access to and the right to use the patents granted, and pending, and software, developed by Endeavors and Stream Theory, in all Citrix products.

• Tadpole Cartesia has been sold for a dollar, but with Geospatial retaining the rights to future royalty payments against sales made by TCI of the GO! Sync products at 50% of the Value Added Reseller (VAR) list price. Lets hope they do well then. This in turn frees up the the Geospatial Solutions Division to focus its financial and managerial resources on accelerating the development of new application and market areas, including the iPlan product suite.

• Tadpole awarded contract to deliver Google Earth based application to BP International. BP International has contracted Tadpole Technology to develop a proof of concept application utilising Google Earth. The application will be delivered to BP Group Fire Advisor to improve the management of system integrity and regulatory compliance across all sites, worldwide

• A new contract draft has been received from OS and negotiations on the detailed terms are in progress for the Geospatial Solutions Division.

• The immediate need for further funding has been removed by the recent announcements, but the directors will monitor the progress of the group to evaluate the options for further funding that may be required.

• Endeavors Technology to showcase Appexpress at the Microsoft Management Summit 2007 in San Diego, March 26th to 30th http://www.streamtheory.com/showkb.php?kb_id=1202 http://www.mms2007.com/public/home.aspx

• Parsons save $1 million in first year by implementing Endeavors AppExpress solution http://www.computerworld.com/action/article.do?command=viewArticleBasic&taxonomyId=12&articleId=282928&intsrc=hm_topic

Negatives

• Divestcap have exercised 4,250,000 warrants at 1p per share and still have 12,750,000 they could exercise.

• Further funding 'may' be required depending on the cash generated in the second half of the financial year.

My personal opinion is that the positives do outweigh the negatives, but this is where it all comes back to continuity. Can Peter and Mark keep the momentum started this year going and get cash generative sales under their belts in time to give the shareprice an opportunity to find a base and grow, or are we going to see a drift back down due to lead to sale times being too slow.

I would hope that the results of attending MMS2007 would lead to several good warm leads to be followed up over the rest of the year and that they will use the massive savings that Parsons have achieved by using Appexpress as leverage to close deals quicker than have been done in the past..........well considering the last 2 years.......to close deals full stop! LOL

For the Geospatial side of things, I would hope that they can build on their deal with BP and we would see a roll out of this to other major oil companies of which there are many and that in turn Endeavors can see these oil companies as warm leads to sell the streaming of applications to (if we are not already going to get revenue from Citrix because they already deliver apps to oil companies, I don't know)