SPACETALK LTD — Interim / Quarterly Report 2009

May 31, 2009

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April 2009 4C 30 May 2009

MGM Wireless would like to accompany this 4C statement with a general warning to shareholders and potential investors that the 4C statement may not adequately reflect the current state of affairs of the company nor does it necessarily provide any meaningful information to shareholders and investors regarding the company’s activities and progress.

In particular, the company would like to point out that during the reporting period school holidays occurred, meaning administration functions for most schools were non-operational for a period of 2-3 weeks.

This resulted in low levels of debtor collections for the month.

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 2.0 m listed on the Australian Securities Exchange (ASX code: MWR). The company trades as Messageyou, LLC in the United States, with its head office in Silicon Valley at Sunnyvale, Cal.

The company’s patented School Attendance Management solutions empower schools to effectively communicate to parents and caregivers using SMS text messaging in combination with culturally sensitive communication to improve attendance, student welfare and safety. MGM Wireless is recognized in Australia and internationally as pioneers and market leaders. MGM’s professional services team delivers an integrated suite of software and communications using its own infrastructure. The solutions enable schools to reduce costs, increase productivity, discharge their duty of care, engage parent involvement, and ultimately improve student learning and social outcomes. Schools in Australia, New Zealand and America use Messageyou software in their day to day operations.

For further information contact:

MGM Wireless Ltd. - (ASX:MWR, MWRO) Mark Fortunatow

CEO Mobile: +61 421 328 984 Phone: +61 8 8431 2300 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com

Monthly Cashflow Report

Monthly Cash Flow Report

Name of entity MGM Wireless Ltd

ABN 93 091 351 530	Month ended (“current month”)
93 091 351 530	30 April 2009

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from customers 1.2 Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other Net operating cash flows	Current month $A’000	Year to date (.10.months) $A’000
	79 (52) - (84) - (3) -	1,669 (1,147) (38) (815) - (23) -
	(60)	(354)

Monthly Cashflow Report

	Current month $A’000	Year to date (.10.months) $A’000
1.8 Net operating cash flows (carried forward)	(60)	(354)
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non-current assets (e) other non-current assets 1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) intellectual property (d) physical non-current assets (e) other non-current assets 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other – Development expenses Net investing cash flows 1.14 Total operating and investing cash flows	(3) -	(6) (183)
	(3)	(189)
	(63)	(543)
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Net financing cash flows	-	295
	-	295
Net increase (decrease) in cash held 1.21 Cash at beginning of month/year to date 1.22 Exchange rate adjustments to item 1.20 1.23 Cash at end of month	(63) 50 2	(248) 236 1
	(11)	(11)

Monthly Cashflow Report

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.24 Aggregate amount of payments to the parties included in item 1.2 1.25 Aggregate amount of loans to the parties included in item 1.11	Current month $A'000
	26
	-

• 1.26 Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

• 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000

Monthly Cashflow Report

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the month (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current month $A’000	Previous month $A’000
4.1 Cash on hand and at bank 4.2 Deposits at call 4.3 Bank overdraft 4.4 Other (provide details)	-	50
	(11)
Total: cash at end of month(item 1.22)	(11)	50

Acquisitions and disposals of business entities

5.1 Name of entity 5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business	Acquisitions (Item 1.9(a))	Disposals (Item 1.10(a))
	N/A
	N/A
	N/A
	N/A
	N/A

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.

• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: M Fortunatow Director

Date: 29 May 2009

Print name: Mark Fortunatow