agm, page-13

re: quarterly ARW.. hmmmm.

my take for what its worth..

firstly.. direction of the CO.

those who moaned about my comments/questions about Daryl Butcher a couple of weeks ago should now know why.

No cash.. obviously haven't been able to run continuously for 30 days at either site (otherwise would have had the balance of the Fed Govt grant that is still held over)

Have inventory they haven't sold.. why?? need to ship now to get paid. Same can be said next week etc

Have spent what appears to be as much as $15M on OS (read US) "development" but as yet have no record of production nor sales in local market.

No word from management read Butcher for months.. Max G is in fact handling all enquiries ??? (Daryl is in the US supposedly)

Various rumours about insto's lobbed in at $1.65 spewing at the curent sp. among other things (see above)

Announced management re-shuffles with no follow up..

enough said. Obviously the technology is fine.. management who can tell.. and the SP bottom.. cant be much further.. lol..

ie all up : wait until you see proof everythings nailed down.

my opinion only DYOR