imho, this coy has been seriously oversold.

NTA 8cps.

acq. of Ocean in April:
According to Mr Romanin CEO of Datafast, "The acquisition of Ocean's
ISP business is synergistic with Datafast's goal of providing
reliable and secure ISP services to niche markets. This acquisition
will add significantly to EBITDA adding over 1500 subscribers and
generating approximately $500,000 of revenue per annum. The increase
in costs is inconsequential as this acquisition will utilise the
current head room in our network."

comments from the qtr report to 31/3/2002:
The operating cashflows for the Period have improved significantly
confirming the improvement in EBITDA signalled in previous releases.
There has been an improvement in the cash position at the end of the
Period as tight control is maintained over the debtors.

Revenues for the quarter are in line with the revenues for the
previous two quarters the major benefits arising from reduction of
expenses which is beginning to flow through to the working capital.
During the Period we have had the benefits of the acquisition of Real
Estate's ISP business and part of the revenues from the Ocean
Internet's ISP business.