I am now deep in the process of raising Toktumi's next traunch of capital. We raised $1.5M last year from various angels and strategic investors, and have managed to launch the service while keeping our burn down and our operations very lean. But after our successful launch at DEMO, we need capital to build our management team, accelerate development of new features and services, and upgrade our infrastructure. I've been very pleased with our traction - more than 10% of our free customers have converted into paying customers, which is higher than I expected given that we are still in closed beta. We are also selling toktumi phone adapters from our webstore despite no promotional efforts. I think we've definately tapped into an unmet need. I've also been encouraged to see our existing customers invite new ones - so far there's been, on average, one invite sent per acquired customer, which seems to indicate the potential for some viral growth. When we marry that with deals in the works with channel partners that already reach small business, that should help us reduce our customer acqusition costs. I'm convinced that our approach is the only profitable way to acquire customers in SOHO 1-9 employee businesses, which have traditionally been underserved because its been too expensive to reach them selling complicated equipment via call centers and direct sales teams. By offering an easy do-it-yourself system for which referrals can quicky lead to trials, we are the first to really unlock the power of web distribution in the hosted PBX market. Now, let's hope the VCs can see it the same way!