Revenues at Fon last month were slightly over 100K euros. Gross margins are over 70%. Cash burn which was over a million euros during December was down to 480K euros in April and is going down to 350K euros in June. This puts us on target to be profitable in the last quarter of 2009. Number of registered Foneros is at 830,000. Number of registered hotspots is 332,000 and of active hotspots at anytime has gone up to 212,000 around the world up from 145,000 in December. Last week we added 6000 hotspots and we are on target to have 300K hotspots by year end. Headcount is 61 employees around the world which is remarkable for a company that is managing the largest and fastest growing WiFi network in the world. Our top countries are UK, France, Japan, Germany, USA, Taiwan, Spain and Italy.

Follow Martin Varsavsky on Twitter: twitter.com/martinvars

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