JCURVE SOLUTIONS LTD — Interim / Quarterly Report 2008

Feb 27, 2008

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Companies Announcement Office Australian Securities Exchange Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000

Stratatel Limited ABN 63 088 257 729

Ground Floor 1 Atchison Street St Leonards NSW 2065

[T] +61 2 9467 9200 [F] +61 2 9467 9201 [W] stratatel.com.au

28[th] February 2008

PRE TAX HALF-YEAR PROFIT OF $347K – DECLARES DIVIDEND!

Dear Sir,

In accordance with ASX Listing Rule 4.2A and the requirements of the Corporations Act 2001 Stratatel hereby presents its‟ half-yearly report.

The operating results for the half-year to 31 December 2007 are shown with comparisons to the previous corresponding period, being the six months to 31 December 2006.

Results For Announcement To The Market:

	$‟s	Percentage change over previous corresponding period
Revenuefromordinary activities	2,816,522	+100
Profitfromordinary activities before taxattributable tomembers	347,451	+95
Profit from ordinary activities after tax attributable to members	704,534	+70
Net profitforthe period attributable tomembers	704,534	+70

Dividends:

The Company is pleased to announce a 0.25 cents per share interim unfranked dividend for the half-year period ended 31 December 2007. The record date for the Dividend is Tuesday 25[th] March 2008 with payment of the dividend expected to be made in the week commencing 7[th] April 2008.

The Company remains committed to the payment of regular dividends and details of the Company‟s Dividend Reinvestment Plan will be made available to Shareholders in due course.

Explanation of Result:

The first six months of the 2008 financial period has seen revenue double from $1.4m to $2.8m over the previous corresponding period as a result of increased sales activity from the FleetManager and Softlog business units.

At the same time earnings before tax increased from $178k to $347k, or 95%. Including a Research and Development Tax Concession of $127k and deferred Income Tax benefit of $230k the Company posted a net profit after tax of $705k.

Operating Cash Inflow of $387k, an increase of $61k over the previous corresponding period, supports continuous improvement in the Company‟s ongoing activities.

These results are in line with Company expectations with the outlook for the second half of the fiscal year being positive.

The solid performance in revenue and earnings reaffirms the Company‟s strategy of building a base of recurrent revenues to underpin stable long term business growth

The information contained in the attached half-year financial report should be read in conjunction with the most recent annual financial report.

Mike Fairclough Managing Director

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Stratatel Limited (ABN 63 088 257 729)

Half Year Report 31 December 2007

Stratatel Limited

Contents	Page
Directors‟ Report	1
Auditor‟s Independence Declaration	2
Condensed Income Statement	3
Condensed Balance Sheet	4
Condensed Statement of Changes in Equity	5
Condensed Cash Flow Statement	6
Notes to the Financial Statements	7
Directors‟ Declaration	9
Independent Auditor‟s Review Report	10

Stratatel Limited

• 1 -

DIRECTORS’ REPORT

Your directors submit the financial report of the consolidated entity for the half year ended 31 December 2007. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

Directors

The names of directors who held office during or since the end of the half year and until the date of this report are as below. Directors were in office for this entire period unless otherwise stated.

Ian Alexander Macliver	Chairman
Michael James Fairclough	Managing Director
Geoffrey Ernest Lambert	Non-Executive Director
Graham Baillie	Non-Executive Director (appointed 20 September 2007)

Review of Operations

• Revenue from ordinary activities increased by 100.8% or $1.4m, up from $1.4m the previous corresponding period to $2.8m this period;

• Expenses increased by $1.1m (97.2%) the result of increased staffing and occupation expense.

The solid increase in revenue resulting in profit reaffirms the quality of the Company‟s Application Service Provision (ASP), or Software As A Service (SAAS) business model; that of strong long-term recurrent revenue contracts.

Auditor’s Independence Declaration

Section 307C of the Corporations Act 2001 requires our auditors, HLB Mann Judd, to provide the directors of the company with an Independence Declaration in relation to the review of the half-year financial report. This Independence Declaration is set out on page 2 and forms part of this directors‟ report for the half-year ended 31 December 2007.

This report is signed in accordance with a resolution of the Board of Directors made pursuant to s.306 (3) of the Corporations Act 2001.

Mike Fairclough

Managing Director

Dated this 28th day of February 2008.

Stratatel Limited

• 2 -

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Auditor’s Independence Declaration

As lead auditor for the review of the financial report of Stratatel Limited for the half year ended 31 December 2007, I declare that to the best of my knowledge and belief, there have been:

• a) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• b) No contraventions of any applicable code of professional conduct in relation to the review.

This declaration is in respect of Stratatel Limited.

Perth, Western Australia 28 February 2008

N G NEILL Partner, HLB Mann Judd

HLB Mann Judd (WA Partnership) ABN 22 193 232 714

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Level 2 15 Rheola Street West Perth 6005 PO Box 263 West Perth 6872 Western Australia. Telephone +61 (08) 9481 0977. Fax +61 (08) 9481 3686. Email: hlb@hlbwa.com.au. Website: http://www.hlb.com.au Liability limited by a scheme approved under Professional Standards Legislation

HLB Mann Judd (WA Partnership) is a member of

International and the HLB Mann Judd National Association of independent accounting firms

Stratatel Limited

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CONDENSED INCOME STATEMENT

FOR THE HALF YEAR ENDED 31 DECEMBER 2007

Notes Revenue Cost of goods sold Employee benefits expense Other employee related expense Communications expense Professional fees Occupation expense Listing expense Depreciation and amortisation Finance costs Other expenses Profit before income tax Income tax benefit Net Profit Basic earnings per share (cents per share) Diluted earnings per share (cents per share)	Consolidated 2007 $ 2006 $ 2,816,522 1,402,450 (196,245) (71,926) (1,442,917) (738,604) (236,091) (122,969) (69,193) (30,248) (161,297) (108,405) (160,902) (86,640) (22,299) (10,904) (81,559) (24,355) (3,281) (1,695) (95,287) (28,717)
	347,451 177,987 357,083 235,155
	704,534 413,142
	0.88 0.55 0.88 0.55

The accompanying notes form part of these financial statements

Stratatel Limited

• 4 -

CONDENSED BALANCE SHEET

AS AT 31 DECEMBER 2007

Notes Assets Current Assets Cash and cash equivalents Trade and other receivables Inventories Other Total Current Assets Non-Current Assets Property, plant and equipment Development Investments Intangible assets Other receivables Deferred tax asset Total Non-Current Assets Total Assets Liabilities Current Liabilities Trade and other payables Total Current Liabilities Non-Current Liabilities Provisions Other payables Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued capital 2 Reserves Retained losses Total Equity	Consolidated 31 Dec 2007 $ 30 Jun 2007 $ 814,905 1,195,882 954,319 689,546 66,552 41,746 85,484 62,862
	1,921,260 1,990,036
	210,054 230,695 1,192,086 1,055,218 21,917 21,917 1,379,468 997,799 43,728 48,320 368,196 138,196
	3,215,449 2,492,145
	5,136,709 4,482,181
	803,691 683,919
	803,691 683,919
	30,641 28,568 600,000 600,000
	630,641 628,568
	1,434,332 1,312,487
	3,702,377 3,169,694
	5,846,808 5,846,808 58,891 29,891 (2,203,322) (2,707,005)
	3,702,377 3,169,694

The accompanying notes form part of these financial statements

Stratatel Limited

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CONDENSED STATEMENT OF CHANGES IN EQUITY

FOR THE HALF YEAR ENDED 31 DECEMBER 2007

Balance as at 1 July 06 Profit for the half-year Income tax benefit Recognition of equity based payment Balance as at 31 December 2006 Balance as at 1 July 07 Profit for the half-year Income tax benefit Dividend payment Recognition of equity based payment Balance as at 31 December 2007	Consolidated Issued Capital Accumulated Losses Reserves Total Equity
	$ $ $ $ 5,758,488 (3,396,307) - 2,362,181 - 177,987 - 177,987 - 235,155 - 235,155 - - 29,891 29,891
	5,758,488 (2,983,165) 29,891 2,805,214
	Consolidated Issued Capital Accumulated Losses Reserves Total Equity
	$ $ $ $ 5,846,808 (2,707,005) 29,891 3,169,694 - 347,452 - 347,452 - 357,083 - 357,083 - (200,852) - (200,852) - - 29,000 29,000
	5,846,808 (2,203,322) 58,891 3,702,377

The accompanying notes form part of these financial statements

Stratatel Limited

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CONDENSED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2007

Cash flows from operating activities Receipts from customers Payments to suppliers and employees Interest received Finance costs Income tax benefit Net cash provided by operating activities Cash flows from investing activities Purchase of property, plant and equipment Purchase of non-current assets Payment for subsidiary, net of cash acquired Net cash used in investing activities Cash flows from financing activities Dividends paid Net cash used in financing activities Net increase(decrease) in cash held Cash and cash equivalents at 1 July 2007 Cash at 31 December 2007	Consolidated 2007 $ 2006 $ Inflows/(Outflows) 2,644,469 1,411,812 (2,294,534) (1,280,168) 39,899 42,170 (3,281) (1,696) - 153,551
	386,553 325,669
	(15,703) (37,443) (363,752) (147,181) (200,000) 126,769
	(579,455) (311,393)
	(188,075) -
	(188,075) -
	(380,977) 14,276 1,195,882 1,549,290
	814,905 1,563,566

The accompanying notes form part of these financial statements

Stratatel Limited

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NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2007

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The half-year consolidated financial statements are a general purpose financial report prepared in accordance with the requirements of the Corporations Act 2001, applicable accounting standards including AASB 134: Interim Financial Reporting, Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board („AASB‟). Compliance with AASB 134 ensures compliance with IAS 34 „Interim Financial Reporting‟.

The half-year report has been prepared on a historical cost basis, except for land and buildings, derivative financial instruments and available-for-sale financial assets which are measured at fair value. Cost is based on the fair value of the consideration given in exchange for assets. All amounts are presented in Australian dollars, unless otherwise noted.

It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2007 and any public announcements made by Stratatel Limited and its subsidiaries during the half-year in accordance with continuous disclosure requirements arising under the Corporations Act 2001.

The half-year report does not include full disclosures of the type normally included in an annual financial report. Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and cash flows of the group as in the full financial report.

For the purpose of preparing the half-year report, the half-year has been treated as a discrete reporting period.

The accounting policies and methods of computation adopted in the preparation of the half-year financial report are consistent with those adopted and disclosed in the company‟s 2007 annual financial report for the financial year ended 30 June 2007.

In the half-year ended 31 December 2007, the Group has reviewed all of the new and revised Standards and Interpretations issued by the AASB that are relevant to its operations and effective for annual reporting periods beginning on or after 1 July 2007.

It has been determined by the Group that there is no impact, material or otherwise, of the new and revised Standards and Interpretations on its business and, therefore, no change is necessary to Group accounting policies.

Stratatel Limited

• 8 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2007

NOTE 2: ISSUED CAPITAL

NOTE 2: ISSUED CAPITAL Ordinary shares Issued and fully paid Movements in ordinary shares on issue At 1 July 2007 At 31 December 2007	Consolidated 31 Dec 2007 $ 30 Jun 2007 $ 5,846,808 5,846,808
	No. $ 80,340,717 5,846,808
	80,340,717 5,846,808

NOTE 3: DIVIDENDS

Final dividends of 0.25 cents per share for the period ended 30 June 2007 have been declared and paid, the total amount being $200,852.

NOTE 4: NET TANGIBLE ASSETS

NOTE 4: NET TANGIBLE ASSETS
	31	Dec 2007	30 Jun 2007
		$	$
Net tangible assets per share		0.014	0.021

Net Tangible Assets as at 31 December 2007 of $1,130,823 consists of Total Net Assets of $3,702,377 less Intangible Assets of $2,571,554.

NOTE 5: SEGMENT REPORTING

The company operates predominantly in one business and geographical segment being the software development industry throughout Australia.

NOTE 6: CONTINGENT LIABILITIES

On 1[st] May 2007, Infratel.com Pty Ltd, a wholly owned subsidiary of Stratatel Ltd, acquired 100% of the business assets of Softlog Systems Pty Limited (Softlog), a software design and development company specialising in the provision of cost recovery and management solutions, based in Queensland. Pursuant to the acquisition Infratel.com Pty Ltd changed its name to Softlog Systems Pty Ltd.

The business assets were acquired on payment of a single instalment to Softlog Systems Pty Ltd of $200,000 plus $46,138 for stock. Additionally a guaranteed sum of $600k in deferred instalments to be paid in equal amounts over the following 18 months.

Further additional contingent amounts of up to $1,200,000 in equal proportions of cash and shares divided equally over a three year period have been agreed based on specific targets, the achievement of which cannot be measured reliably and have not been brought to account.

NOTE 7: EVENTS SUBSEQUENT TO REPORTING DATE

There have been no significant events subsequent to the reporting date.

Stratatel Limited

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DIRECTORS’ DECLARATION

The directors of the company declare that:

1. The financial statements and notes thereto, as set out on pages 3 to 8:

2. a. comply with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations; and

3. b. Give a true and fair view of the consolidated entity‟s financial position as at 31 December 2007 and of its performance for the half-year then ended.

4. In the directors‟ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is signed in accordance with a resolution of the Board of Directors made pursuant to s.303 (5) of the Corporations Act 2001.

Mike Fairclough

Managing Director

Dated this 28th day of February 2008

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INDEPENDENT AUDITOR’S REVIEW REPORT

To the members of Stratatel Limited

Report on the Half-Year Financial Report

We have reviewed the accompanying half-year financial report, which comprises the condensed balance sheet as at 31 December 2007, the condensed income statement, condensed statement of changes in equity, condensed cash flow statement and notes to the financial statements for the half-year ended on that date, and the directors‟ declaration, of Stratatel Limited and the entities it controlled during the half-year ended 31 December 2007 (“consolidated entity”).

Directors’ Responsibility for the Half-Year Financial Report

The directors of the company are responsible for the preparation and fair presentation of the half-year financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001 . This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the half-year financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of an Interim Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the financial report is not in accordance with the Corporations Act 2001 , including giving a true and fair view of the consolidated entity‟s financial position as at 31 December 2007 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of Stratatel Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

HLB Mann Judd (WA Partnership) ABN 22 193 232 714

Level 2 15 Rheola Street West Perth 6005 PO Box 263 West Perth 6872 Western Australia. Telephone +61 (08) 9481 0977. Fax +61 (08) 9481 3686. Email: hlb@hlbwa.com.au. Website: http://www.hlb.com.au Liability limited by a scheme approved under Professional Standards Legislation

HLB Mann Judd (WA Partnership) is a member of International and the HLB Mann Judd National Association of independent accounting firms

Independent Auditor’s Review Report

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 . We confirm that the independence declaration required by the Corporations Act 2001 has been provided to the directors of Stratatel Limited on xx February 2008.

Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half year financial report of Stratatel Limited is not in accordance with the Corporations Act 2001 , including:

• (a) giving a true and fair view of the consolidated entity‟s financial position at 31 December 2007 and of its performance for the half-year ended on that date; and

• (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

HLB MANN JUDD Chartered Accountants

N G NEILL

Perth, Western Australia 28 February 2008