SPACETALK LTD — Interim / Quarterly Report 2009

Mar 30, 2009

February 2009 4C 31 March 2009

Further to a request by the Australian Stock Exchange, MGM Wireless releases the following 4C statement for the month of February 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.

MGM Wireless is an Adelaide-based service company which provides text based communication solutions to schools in Australia, New Zealand and The United States of America and enters into long term, multi-year agreements with its customers which include individual schools and Government Education Departments. Our terms and conditions are long-term and can be lumpy in nature. Monthly variations can also occur due to timing of school holidays and other variable factors.

As such, the company is committed to the process of continual disclosure and intends to provide additional commentary to 4C reports on a quarterly basis.

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 1.2 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 Cash Flow Report

Name of entity MGM Wireless Ltd

ABN Month ended ("current month") 93 091 351 530 28 February 2009

Consolidated statement of cash flows

Cash flows related to operating activities		Current month$A'000	Year to date(.8.months)
			$A'000
1.1	Receipts from customers	254	1,348
1.2	Payments for(a) staff costs	(139)	(982)
	(b) advertising and marketing	-	(38)
	(c) research and development
	(d) leased assets
	(e) other working capital	(123)	(638)
1.3	Dividends received
1.4	Interest and other items of a similar naturereceived	-	-
1.5	Interest and other costs of finance paid	(6)	(18)
1.6	Income taxes paid
1.7	Other	-	-
	Net operating cash flows	(14)	(328)

		Current month$A'000	Year to date(.8.months)$A'000
1.8	Net operating cash flows (carried forward)	(14)	(328)
1.9	Cash flows related to investing activitiesPayment for acquisition of:(a) businesses (item 5)(b) equity investments(c) intellectual property(d) physical non-current assets	-	(2)
1.10	(e) other non-current assetsProceeds 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
1.121.13	Loans repaid by other entitiesOther – Development expenses	-	(183)
	Net investing cash flows	-	(185)
1.14	Total operating and investing cash flows	(14)	(513)
1.151.161.171.181.191.20	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.Proceeds from sale of forfeited sharesProceeds from borrowingsRepayment of borrowingsDividends paidOther (provide details if material)	-	295
	Net financing cash flows	-	295
	Net increase (decrease) in cash held	(14)	(218)
1.211.22	Cash at beginning of month/year to dateExchange rate adjustments to item 1.20	30-	236(2)
1.23	Cash at end of month	16	16

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

		Current month$A'000
1.24	Aggregate amount of payments to the parties included in item 1.2	66
1.25	Aggregate amount of loans to the parties included in item 1.11	-
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).

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

Reconciliation of cash

Reconciliation of cash at the end of the month (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current month$A'000	Previous month$A'000
4.1	Cash on hand and at bank	16	29
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (provide details)
	Total: cash at end of month (item 1.22)	16	29

Acquisitions and disposals of business entities

		Acquisitions(Item 1.9(a))	Disposals(Item 1.10(a))
5.1	Name of entity	N/A
5.2	Place of incorporationor registration	N/A
5.3	Consideration foracquisition or disposal	N/A
5.4	Total net assets	N/A
5.5	Nature of business	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 Date: 31 March 2009 Director

Print name: Mark Fortunatow