SPACETALK LTD — Interim / Quarterly Report 2011

Feb 23, 2011

Companies Announcement Office Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

ASX Release MGM Wireless Ltd

Half Year Results as at 31 December 2010

Thursday 24 February 2011

Profit	Increased	829%	to	\$45,010
Revenue	Increased	18%	to	\$1,225,602
Sales	Increased	7%	to	\$1,053,215
Contracted Schools	Increased	14%	to	560 Schools

South Australian-based school communications group MGM Wireless Ltd today released half year financials along with auditors' report today showing strong revenue growth in sales of its Messaging products to schools across Australia as well as improved profit, earnings and debt to income ratios.

The favourable half year results reflect a 166% jump in earnings before depreciation, amortisation, interest and tax (EBITDA) of A\$197,202 as compared to A\$74,016 for the same period last year. The company attributed the result to a more focussed sales effort and wider market acceptance of their messaging products. Half year profit was A\$45,010 compared to A\$4,843 in the same period last year.

MGM's Wireless' revenue structure has now hit its stride as multi-year messaging licence subscriptions are renewed and contribute a larger proportion to pre tax earnings. The company's cost base continued to be streamlined over the period aiding cash flow while the settlement of a final payment of \$260,000 to a former distributor helped make a significant improvement in the company's debt to income ratio.

This half year also saw the successful completion of a Share Purchase Plan in November which raised \$154,275 before costs. The funds have been earmarked primarily to fund further product development and to pave the way to commercialise new and existing products.

The number of contracted schools jumped from 491 at the same time last year to 560 in the current half year despite a small decline in the number of schools in NSW due to contractual changes there.

Since the end of the half year, the rollout of MGM Wireless' Early Notification product in New Zealand has commenced in the schools already contracted but not included in school numbers reported. In response to the recent events in Christchurch, we have offered free Outreach messaging services to schools in earthquake affected areas for a limited time. This offer was also extended to schools affected by the recent floods in Queensland.

MGM's recent successful patent application relating to billing technology for the company's new School News Channel™ Messaging Platform sets the stage for this product to be launched in Australia via on-line social media channels and local representatives in the first half of 2011. Australia will serve as a test market for the product while the company awaits a turnaround in the US schools market.

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of approximately A\$ 1.7m 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)

Phone:	+61 8 8104 9555
Email:	mfortunatow@mgmwireless.com
Web:	www.mgmwireless.com

Appendix 4D MGM WIRELESS LIMITED ABN 93 091 351 530 Half-year Report 31 December 2010 (Previous corresponding period: 31 December 2009)

Results for announcement to the market

Financial Results				6 months ended 31 Dec 2010 \$
Revenue	up	18%	to	1,225,602
Profit (loss) after tax attributable to members	up	829%	to	45,010
Net profit (loss) for the period attributable to members	up	829%	to	45,010

Dividends	Amount per Ordinary Security	Franked amount per security
Interim dividend	Nil	Nil
Final dividend	Nil	Nil
It is not proposed to pay a dividend.
Record date for determining entitlements to the interim dividends	N/A

Net Tangible Asset Backing	31 December 2010	31 December 2009
Net tangible asset backing per ordinary security	0.00 cps	0.00 cps

Other explanatory notes

Control gained or lost over entities during the period
Name of entity	N/A
Date of gaining control
Distributions to shareholders N/A
Dividend reinvestment plan details	N/A
Joint venture and associate details N/A

Foreign entities accounting standards used N/A

MGM Wireless Limited

ABN 93 091 351 530

Half-Year Report 31-Dec-10

Index Half - Year Ended 31 December 2010

• Page Index
• 3 Corporate Directory
• 4 Directors' Report
• 7 Auditors Independence Declaration
• 8 Independent Audit Report to the Member of MGM Wireless Ltd
• 10 Directors' Declaration
• 11 Financial Statements

Corporate Directory

Registered Office

Suite 13, The Parks 154 Fullarton Road Rose Park SA 5067

Principal Office

Suite 13, The Parks 154 Fullarton Road Rose Park SA 5067

Telephone:	(08) 8104 9555
Facsimile:	(08) 8431 2400

Auditor

IG McDonald FCA
1st Floor
206 Greenhill Road
EASTWOOD SA 5063
Telephone:	0419 620 906
	(08) 8271 8585
Facsimile:	(08) 8356 6397

Share Registry

Computershare Investor Services Pty Ltd Level 2 45 St George's Terrace Perth WA 6000

Telephone:	1300 557 010
	(08) 9323 2000
Facsimile:	(08) 9323 2033

Stock Exchange

The securities of MGM Wireless Limited are listed on the Australian Securities Exchange.

ASX Codes: MWR ordinary fully paid shares

Directors Report

Your Directors present their report on the Company and its controlled entities for the half year ended 31 December 2010.

Directors

The names of the Directors of the Company in office during the financial year and up to the date of this report are as follows. Directors were in office for the full half-year.

Mark Fortunatow Mark Edwin Hurd John Sydney Dawkins Shaun Michael Collopy

Review of Operations

MGM Wireless Ltd is pleased to announce its half-year results that continues to build on its maiden profit during the 2009/10 financial year, strengthening its financial position. Key results include:

Profit

Profit for the half-year was \$45,010, as compared to \$4,843 for the same period last year, an improvement of 829%.

EBITDA for the half year was \$197,202 as compared to \$74,016 for the same period last year, an increase of 166%.

Sales

Sales for the half year were \$1,053,215 as compared to \$984,484 for the same period last year, an increase of 7%.

Revenues

Revenues for the half year were \$1,225,602 as compared to \$1,035,949 for the same period last year, an increase of 18%.

Customer Growth

There were 560 contracted and operational schools as at December 31, 2010. At December 31, 2009, there were 491 contracted and operationsl schools. This represents an increase over the year of 14%.

During the half-year the arrangement with Sydney Central region of the NSW State Education Department was unwound and schools invited to contract with MGM Wireless individually. This led to a small decline in school numbers during the December quarter however, the change is favourable to both Group sales and revenue.

Positive Operational Cash Flows

As the Group business continues to grow, and the business is structured around multi-year license subscriptions the mass of subscriptions renewing, grows each year. When this is combined with ongoing business improvements the generation of cash from operations improves, and places the Group in a good position to fund future growth and rollout of new products and innovation.

Directors Report (cont.)

Review of Operations (cont.)

Product Development and Innovation

The Group is currently putting the final touches to its School News Channel product, which uses innovative patented technology and revenue billing models in order to provide schools with a social messaging platform, that is complementary and comptible with traditional crisis messaging.

Development of its electronic roll marking product, which is scheduled for release in the first half of this year is proceeding on schedule with release expected in the first half of the year.

New Zealand

Since the end of the half-year the NZ early notification (NZ EN) has received regulatory approval and the process of installing the product in contracted schools and training school staff has begun.

US operations

Economic circumstances have been difficult for US schools. MGM Wireless operations in US have remained in a holding pattern over the half-year. As the commercialisation process for School News Channel progresses during 2011 it is expected that the sutiability and reliability of the product for the US market will be proven.

Current Liabilities

Total current liabilities were \$1,161,850 of which trade payables were \$175,019. The balance of current liabilities includes an accrual of \$220,867 for unearned revenue, other payables and accruals of \$521,056, accrued SMS charges of \$134,175, provisions of \$96,485 and borrowings of \$14,248.

As detailed in this half year report (refer Note 4 the terms of the loans from directors has been documented. These loans have a term of over 12 months and have been reclassified as non-current.

Patent

Since the end of the year a patent application covering billing technology that is integral to the School News Channel has been established following acceptance of all claims by the World Intellectual Property Office. For this to occur the patent has to meet their requirements for novelty, inventive step and industrial applicability.

This is an important step in the commercialisation of this technology and is a building block for the eventual move into the US market.

Directors Report (cont.)

Review of Operations (cont.)

Changes in State of Affairs

During the half year ended 31 December 2010 there was no significant change in the entity's state of affairs other than that referred to in the half-year year financial statements or notes thereto.

Auditors Declaration of Independence

The auditor's independence declaration for the year ended 30 June 2010 has been received and is included on page 6.

Signed in accordance with a resolution of directors,

Mark Fortunatow Executive Chairman Signed at Rose Park on 24 February, 2011

IAN G McDONALD FCA

ABN: 13550494869

1 st Floor 206 Greenhill Rd Eastwood SA 5063

PO Box 75 Henley Beach SA 5022

Mobile 0419620906 Residence 83560825 Facsimile 83566397

Email: imd1962@bigpond.net.au

AUDITOR'S INDEPENDENCE DECLARATION TO THE DIRECTORS OF MGM WIRELESS LTD

As lead auditor for the review of the financial report of MGM Wireless Limited for the half year ended 31 December 2010, I declare that, to the best of my knowledge and belief, there have been no contraventions of:

• (i) the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
• (ii) any applicable code of professional conduct in relation to the review.

Ian G McDonald FCA Chartered Accountant

Dated in Eastwood on 3rd February 2011

Liability limited by a scheme approved under Professional Standards Legislation

IAN G McDONALD FCA

ABN: 13550494869

1 st Floor 206 Greenhill Rd Eastwood SA 5063

PO Box 75 Henley Beach SA 5022

Mobile 0419620906 Residence 83560825 Facsimile 83566397

Email: imd1962@bigpond.net.au

INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF MGM WIRELESS LTD

Report on the Half-Year Financial Report

I have reviewed the accompanying half year consolidated financial report of MGM Wireless Ltd (`the company'), which comprises the condensed balance sheet as at 31 December 2010, condensed income statement, condensed statement of changes in equity and condensed cash flow statement for the half-year ended on that date, notes to the financial statements, other selected explanatory notes and the directors' declaration.

Directors' Responsibility for the Half-Year Financial Report

The directors' of the company are responsible for the preparation and fair presentation of the halfyear 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 control relevant to the preparation and fair presentation of the half-year financial report that is free from material misstatements, 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

My responsibility is to express a conclusion on the half-year financial report based on m y review. I conducted m y review in accordance with Australian 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, I have become aware of any matter that makes me 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 2010 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 the company, ASRE 2410 requires that I 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, I do not express an audit opinion.

Independence

In conducting m y review, I have complied with the independence requirements of the Corporations Act 2001. I confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of the company on the 3nd of February 2011, would be in the same terms if provided to the directors as at the date of this auditor's review report.

Conclusion

Based on my review, which is not an audit, I have not become aware of any matter that makes me believe that the half-year consolidated financial report of MGM Wireless Ltd is not in accordance with the Corporations Act 2001 including:

• (a) giving a true and fair view of the company's financial position as at 31 December 2010 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 Corporation Regulations 2001.

Material Uncertainty Regarding Continuation as a Going Concern

Without qualification to the conclusion expressed above, I draw attention to Note 1 in the financial report which indicates that:

(a) during the half-year ended 31 December 2010, the consolidated entity recorded an operating profit of \$ 45,010 and a net cash inflow from operating activities of \$32,925 for the half-year ended 31 December 2010, and

(b) at balance date, had net current liabilities of \$ 1,161,850 and net total assets of \$ 445,487.

These conditions indicate uncertainty exists as to whether the consolidated entity will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.

Ian G McDonald FCA Chartered Accountant

Dated in Renmark on 21st February 2011.

Liability limited by a scheme approved under Professional Standards Legislation

Directors' Declaration

The directors of the Company declare that:

(a) 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; and

(b) in the directors opinion, the attached financial statements, and notes thereto are in accordance with the Corporations Act 2001, including compliance with accounting standards and giving a true and fair view of the financial position and performance of the company and the consolidated entity.

Signed in accordance with a resolution of the directors made pursuant to sec 303 (5) if the Corporations Act 2001.

On behalf of the Directors,

Mark Fortunatow Executive Chairman Signed at Rose Park on 24 February, 2011

Condensed Consolidated Statement of Comprehensive Income

		Group
		Half-Year Ended
	Notes	31/12/2010	31/12/2009
		\$	\$
Continuing Operations
Revenue		1,225,602	1,035,949
Cost of sales		(114,259)	(79,076)
Doubtful debts		8,248	51,000
Borrowing costs		(36,305)	(16,538)
Amortisation & depreciation		(115,887)	(52,635)
Advertising and marketing			(5,638)
Consulting fees		(2,305)	(15,719)
Corporate and administration		(223,020)	(200,599)
Employee costs		(696,988)	(710,418)
Profit before tax		45,086	6,326
Income tax expense		0	0
Profit for the year from
continuing operations		45,086	6,326
Profit for the year		45,086	6,326
Other comprehensive income
Exchange differences on translating
foreign operations		(76)	(1,483)
Transfer to foreign currency reserve		0	0
Other comprehensive income net of tax		(76)	(1,483)
Total comprehensive income for the year		45,010	4,843
Profit attributable to:
Owners of the Company		45,086	6,326
Total comprehensive income attributable to:
Owners of the Company		45,010	4,843
Note 8.2 details profit by segment.
Earnings per share
From continuing and discontinued
operations:
Basic (cents per share)		0.00	0.00
Diluted (cents per share)		0.00	0.00
From continuing operations
Basic (cents per share)		0.00	0.00
Diluted (cents per share)		0.00	0.00

The above Consolidated Statement of Comprehensive Income should be read in conjunction with the attached notes.

Consolidated Statement of Financial Position

		Group
			As At
	Notes	31/12/2010	30/06/2010
		\$	\$
ASSETS
Current Assets Cash and cash equivalents		190,658	223,583
Trade and other receivables		460,851	509,543
Other		250	5,624
Total Current Assets		651,759	738,750
Non-Current Assets
Property, plant and equipment		166,366	146,884
Intangibles		1,096,667	1,094,521
Total Non-Current Assets		1,263,033	1,241,405
Total Assets		1,914,792	1,980,155
LIABILITIES Current Liabilities
Trade and other payables		1,051,117	1,400,779
Borrowings		14,248	300,000
Provisions		96,485	79,972
Total Current Liabilities		1,161,850	1,780,751
Non-Current Liabilities
Borrowings		307,455	0
		307,455	0
Total Liabilities		1,469,305	1,780,751
Net Assets		445,487	199,404
EQUITY
Parent entity interest:
Issued capital	2	7,010,826	6,864,663
Reserves		191,078	136,168
Accumulated losses		(6,756,417)	(6,801,427)
		445,487	199,404
Outside equity interest:
Issued capital Accumulated losses		0 0	0 0
Total Equity		0 445,487	0 199,404

The above Consolidated Statement of Financial Position should be read in conjunction with the attached notes.

Consolidated Statement of Changes in Equity

Issued Capital	Accumulated Losses	Option Issue Reserve	Foreign Currency Translation Reserve	Total Equity
				\$
6,722,112 149,000	(7,004,413) 4,843	135,856	(1,983)	(148,428) 4,843 149,000
				(7,450) 3,977
6,863,662	(6,999,570)	135,856	1,994	1,942
6,864,663	(6,801,427) 45,086 (76)	135,856	312	199,404 45,086 (76)
				8,000 154,275
				(16,112)
				51,000
			3,910	3,910
				445,487
	\$ (7,450) 8,000 154,275 (16,112) 7,010,826	\$ (6,756,417)	\$ 51,000 186,856	\$ 3,977 4,222

The above Consolidated Statement of Changes in Equity should be read in conjunction with the attached notes.

Consolidated Statement of Cash Flows

	Group
	6 Months Ended
	31/12/2010	31/12/2009
	\$	\$
Cash flows from operating activities
Receipts from customers	1,213,223	1,111,136
Payments to suppliers and employees	(976,314)	(1,049,658)
Interest received Interest and other costs of finance	30 (36,305)	20 (16,538)
	200,634	44,960
Cash flows from investing activities
Payments for plant and equipment	(27,848)	(1,039)
Payment for research and development	(109,668)	(121,277)
Net cash provided / (used) by investing
activities	(137,516)	(122,316)
Cash flows from financing activities
Proceeds from issue of shares	146,163	(4,950)
Proceeds from borrowing	(238,296)	0
Net cash provided / (used) by financing
activities	(92,133)	(4,950)
Net increase / decrease in cash held	(29,015)	(82,306)
Cash at the beginning of the year	223,583	241,448
Effect of exchange rate changes	(3,910)	3,976
Cash at the end of the year	190,658	163,118

The above Consolidated Statement of Cash Flows should be read in conjunction with the attached notes.

Notes to the Financial Statements

1.1 Statement of Compliance

The half-year financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001, and AASB 134, Interim Financial Reporting. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34, Interim Financial Reporting. The half-year report does not include notes of the type normally included in an annual financial report and should be read in conjunction with the most recent annual financial report.

1.2 Going Concern

The Directors believe after consideration of the following factors, there are reasonable grounds to believe that the company and the consolidated entity will be able to continue as going concerns: - The Group's continued profitability for the half-year ended 31 December 2010, and management projections of further revenue growth and positive bottom line performance as new products are installed with new and existing clients;

• The Group meeting its commitments including the conclusion of the arrangment to acquire rights to WA and SA from a former distributor in November, renegotiating its loan arrangement with two directors, and the continued improvement in the Group's net current liability position.

Accordingly, the Directors believe that the parent and consolidated entity will continue as going concerns and that it is appropriate to adopt that basis of accounting in the preparation of the financial report.

1.3 Accounting Estimates

The preparation of interim financial reports requires management to make judgements, estimates and assumptions that affect the adoption of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from those estimates.

In preparing this half-year report, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation unceratinty were the same as those that applied to the consolidated financial report for the year ended 30 June 2010, except as set out below.

Life of intangible assets

The directors have reviewed the life of the Group's intangible assets. These consist of internally generated research and development and licenses or rights to operate in various states that have been repurchased from former distributors. In the opinion of the Group and in the light of the conclusion of the repurchase agreement in respect of the license to operate in WA and SA, the licenses are now considered to have a infinte life. Accordingly and in keeping with the Group's accounting policy on intangibles no amortisation has been booked in the current half-year in relation to them. In the comparative half-yearly period no amortisation was charged. As with all non-current assets and in accordance with existing Group accounting they will continue to be reviewed at least annually for impairment. Internally generated research and development is still considered to have a finite life and is amortised accordingly.

2. Issued Capital

2. Issued Capital		Group 6 Months Ended
		31/12/2010	31/12/2009
		\$	\$
Issued Capital
Ordinary shares - fully paid		7,010,826	6,863,662
Movement in ordinary shares on issue
Balance at beginning of period		220,616,768	6,864,663
Movements		19,150,000	146,163
Balance at end of period		239,766,768	13,874,488

During the half-year reporting period the company issued 10.5m options to directors. These had a fair value at grant date of \$51,000. During the peiod 14,103,380 listed options expired as did 11,600,000 options to directors and staff.

Notes to the Financial Statements (cont.)

3. Segment information

AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segments and to assess their performance.

In both the current and previous reporting periods the Group has only operated in one business sector and reporting to management has been on a geographical basis. Each company represents a strategic business unit that offers different risks and rates of returns. This is the basis by which management controls and reviews the operations of the Group.

The accounting policies of the reportable segments are the same as the Group's accounting policies.

MGM Wireless (NZ) Pty Ltd commenced operations during the year ended 30 June 2010, after the end of the prior reporting period.

	Segment revenue 6 Months Ended		Segment profit 6 Months Ended
	31/12/2010	31/12/2009	31/12/2010	31/12/2009
MGM Wireless Holdings Pty Ltd	1,164,887	1,021,009	66,110	12,613
USA Message YOU LLC	653	14,940	(14,343)	(7,770)
NZ MGM Wireless (NZ) Pty Ltd	60,062	0	(6,757)
Total for Continuing Operation	1,225,602	1,035,949
Profit before tax (continuing operations)			45,010	4,843

Revenue reported above represents revenue generated from external customers. There was an inter-entity charge of \$26,774 (2009, \$nil) from the Australian to the NZ operations during the half year.

The accounting policies of the reportable segments are the same as the Group's accounting policies described in note 3. The segment result for NZ and the USA represents the profit earned by each segment without allocation of central administration costs and directors' salaries, investment revenue, finance costs and income tax expense. These costs are routinely considered to be part of the Australian operations. This is the basis on which segment results are routinely reported to the chief operating decision maker for the purposes of resource allocation and assessment of segment performance.

Segment assets and liabilities

	Assets		Liabilities
	Year Ended		Year Ended
	31/12/2010	31/12/2009	31/12/2010	31/12/2009
MGM Wireless Holdings Pty Ltd	1,832,630	1,796,448	1,395,640	1,771,169
USA Message YOU LLC	1,753	11,188	31,173	34,525
NZ MGM Wireless (NZ) Pty Ltd	80,409	0	42,493
Consolidated Assets	1,914,792	1,807,636
Consolidated Liabilities			1,469,306	1,805,694

Each segment's assets and liabilities are accounted for within their own entity. Other assets and liabilities are retained within the Australian entity. General intellectual property is retained by the parent company.

Notes to the Financial Statements (cont.)

4. Borrowings

During 2008 the two executive directors each individually advanced the Group \$150,000. These arrangments have now been formalized and documented since the end of the half-year. These loans are not repayable within 12 months and bear interest at rates lower than the Group could otherwise obtain debt finance at. The documentation reflects the reality of how the loans have been treated. The loans will be secured by a floating charge over MGM Wireless Holdings Pty Ltd. As a result of this formalization of the loan arrangements the loan has been reclassified as non-current. Comparatives have not been altered to reflect this amendment.

During the half-year the Group also took on fresh borrowings to finance the acquisition of a new server to enable the Group to effectively service the growing SMS traffic through the business. Further details were contained in the annual financial report.

5. Legal Action

The Group is currently involved in legal action initiated by a former supplier of messages. Advice from Senior Counsel is that the MGM Group is in a very strong position and expects to win the Court action and if it doesn't the amount is expected to be immaterial to the Group's results.

6. Key Management Personnel

Remuneration arrangements for key management personnel are disclosed in the annual financial report.

7. Dividends

No dividends have been declared in relation to the half-year ended 31 December 2010 (2009, \$nil).