A Letter from the CEO

Dear shareholders,

It seems like only yesterday that we held our second annual shareholders’ meeting, but so much has happened that time seems to fly by. I’d like to update you on some of the more recent events here at Voyant.

First, I’d like to tell you about another new executive who has joined Voyant. I’m very pleased to welcome Jay Elliot to our team. Jay will serve in a dual capacity as both General Manager of Software Products and Services and as President of RocketStream.

Jay is a true Silicon Valley legend, with a career history steeped in the growth of the Valley’s software industry. In his early days, he was a programmer at IBM, quickly rising to become director of IBM’s entire Santa Teresa software laboratory. He then went to work for Andy Grove, directing Intel’s California operations. Jay also worked directly with Steve Jobs as Senior VP of Operations at Apple Computer, where he oversaw the development of Apple’s flagship Macintosh software and was instrumental in growing a $2 billion business. I think you can understand why we’re so excited to have Jay with us here at Voyant.

As some of you have heard me say before, we believe that the value of our RocketStream technology is most compelling when it is harnessed to solve larger system-level solutions and problems, not simply as a discrete product. Having said that, I’m pleased to report that revenues for the discrete RocketStream product continue to grow, and sales for the second quarter, while still modest, were significantly ahead of prior quarters and moving in the right direction.

Another benefit of our focus on embedding RocketStream software into other applications is that our customers will constitute a virtual sales channel for us. As those companies sell their products, they are actually selling RocketStream. Our recent Proginet announcement is an example of this model.

With the addition of Jay, we are accelerating the evolution of our software business. Jay will be working on a whole array of software businesses focused on the intersection of digital content and technology. Principal among these are RocketStream-related business, where we can leverage the technology we have already developed. However, Jay will also be evaluating and executing on a variety of exciting new software product and service opportunities, some of which we’ve been pursuing for a while and some of which are new to Voyant. The coming months should see us moving in some terrific new directions.

As part of this organizational enhancement, Jay will also take over the day-to-day operations of RocketStream as its president. Jay’s many years of industry experience will be invaluable in fulfilling this charter.

RocketStream Founder Scott Fairbairn will operate independently as a consultant and coordinate with the Voyant management team to evaluate and launch new businesses that leverage the RocketStream engine. Scott will continue to serve on Voyant’s Board of Directors. As part of this transition, Herschel Stiles will become Voyant’s Chief Technology Officer (CTO).

In parallel with these structural changes to our software business, the rest of the Voyant family of businesses continues to progress at a brisk pace. We recently announced that our Aviation Broadband solution just completed the first in a series of flight tests. As part of such a large-scale system development, you can imagine that there are many technical challenges to be worked out. These first tests exceeded our performance expectations, and we are quite pleased with the results. We will continue with this development program as expeditiously as possible. In parallel, we continue to meet with various airlines, regulatory agencies, and other potential partners, and some of you may have noticed our new website dedicated to this business at http://www.voyant.ae....

Finally, I wanted to let you know that we are in the process of restructuring our Investor Relations program to reach out to potential new investors and to provide our current shareholders with the best transparency possible. We are implementing a new messaging campaign, increasing our media and technology industry presence, engaging some new external resources, and even starting an industry blog (http://voyantblog.ne...). Please continue to contact us at anytime through e-mail at investorrelations@voyant.net.

It remains a very exciting time at Voyant, and the summer months have us as busy as ever. Please join me in welcoming Jay Elliot to the team, and I hope your passion for Voyant continues to be as strong as ours.

Sincerely,

Dana Waldman
CEO

P.S.: As always, please remember that in this letter, we make forward-looking statements about our future expectations, plans and prospects. There is a risk that the actual results we achieve will differ from those forward-looking statements. To better understand these risks and the reasons that our results may differ from our statements, please read the “Forward Looking Statements Note” on the Investor page of our website and our filings with the Securities Exchange Commission, especially Forms 10KSB and 10QSB.