Ann: Meetings with Sunbridge Managing Director Mr Xu, page-29

Yes you are correct. There will not be a dividend this year. Well done to you. First correct comment you have made.

Considering the company started its listed life with $24 million in cash and $10 million in debt and now has the following.

$29 million in cash
$0 debt
$9 million spent on renovations
$4.5 million spent on store purchases
HQ and warehouse built and paid for

Now considering all this can be done and we actually increased the cash pile. Why do you think they can blow $29 million this year? Particularly considering there is about $15 million coming in annually.

There is no capital raising coming.