still very much in the beginning of a major turnaround and results just won’t happen overnight. We are implementing dramatic changes that we believe will ultimately drive positive results for eCOST both operationally and financially. We’re still very much at the front end of this integration effort, eight weeks since the merger, and as we navigate through a great deal of issues, included customer service issues and fulfillment costs that we’re trying to address, an attack priority as I mentioned a few minutes ago.

Now, in addition we were just informed this week that the FBI shut down the operations of one of cCOST’s business-to-business customers which forced that company to cease operations. This is currently expected to result in a loss of about $1.4 million in the December 2005 quarterly results for eCOST. That’s eCOST’s, not PFSweb’s results. And there’s another 600,000 expected to be recorded in the March quarter, including about 400,000 that could be reflected in PFSweb’s consolidated financial results for the March 2006 quarter. That’s still uncertain at this point. The situation was quite extraordinary given the involvement of federal authorities and the scope of the accusations of fraud and other criminal activities that have been alleged against the operators of the business. We’re still assessing the situation, but at this point, as I said, there may be further write-offs for the customer in the range of 400,000 to 500,000, some of which may hit the PFSweb P&L. But, again, at this point it’s still undetermined.

Given this recent extraordinary development together with the great number of moving parts in the turnaround of eCOST that our integration effort has just begun to set in motion, it’s difficult at this time to have a clear enough vision to provide a reasonable forecast for cCOST’s 2006 financial targets. We anticipate having a clearer picture of our progress over the coming months as we continue to make advancements in the integration project and we can better judge the speed at which the improvements are taking hold. Again, it’s been eight weeks since the close. This is a major turnaround activity. It’s going to take time for things to begin to happen.

So I know that’s a lot of information. Sorry for the long prepared comments, but we needed to provide you a lot of basis to be able to go from there. Operator, that concludes our prepared side of things. We’ll now be available for questions.

OPERATOR: At this time I would like to remind everyone if you would like to ask a question, press star then the number one on your telephone keypad. We’ll pause for just a moment to compile the Q&A roster.

Your first question comes from Alex Silverman, of Special Situations.

ALEX SILVERMAN, SPECIAL SITUATIONS: Good morning.

MARK LAYTON: Good morning, Alex.

ALEX SILVERMAN: Thank you for providing as much info as you did. Just a couple of quick clarifications, if you would. Is it your — is it your current proposal pipeline is 25 million in annual service fees?

THOMAS MADDEN: Yes, that’s correct.