12 February, 2000,

Absolute Genius

276 Carlaw Ave., Unit #211

Toronto, Ontario

Canada M4M 3L1

Tel: (416) 461-1551

Fax: (416) 461-4537

Web: www.absolutegenius.com

Attention: Client Contact

Client Company Name

Client Street Address.

Scarborough, Ontario

Canada M1X 1G5

Tel: (Client Telephone) Fax: (Client Fax)

Re: Valudater Front End and Control Project

PC KIOSK - User Front End and Control to guide the user through the deposit process while controlling

the hardware and providing the User with a receipt as well as storing the transaction information with

backups. (Parts are estimated for 2 Units)

I see your dilemma concerning your budget! The parts are difficult to do anything with so they pretty

well have to stand as-is.

Your budget of $25,000.00 for 2 units is very tight, if the development has to be done within that

budget. Is there any way to get your client to commit to more than 2 units to give some breathing room to

the development amortization? Anyway, based on this tight budget, what I propose is that the Parts List

and the Keyboard Development stay as they are. The other Hardware and Software Development Labour I

do for half of what is estimated. And on further Production Units we get $500.00 for the software and we

provide a security dongle with each copy.


Yours Truly,


Sean O'Leary

12 February, 2000 - Rev. 1 Page 1 of 5

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