Development Stage Activities –
Since we redeemed and converted all of the outstanding Series A Preferred Stock of Comtex News Network, Inc. at the end of September 2006. Starting October 1, 2006 we have not conducted any business operations. All of our operating results and cash flows reported in the accompanying unaudited condensed interim financial statements from October 1, 2006 are considered to be those related to development stage activities and represent the cumulative amounts from its development stage activities required to be reported.