Ann: US Sales Update, page-121

The sales update announcement was quite disappointing for me. Nothing new was announced and the revenue numbers coming in from established customer's is nowhere near enough to justify this type of valuation. I would have hoped that more customers would already be on board if the mix worked as it is supposed to. $35K and 100K that we already knew about it certainly disappointing.

The implications of this on cash is concerning. EDE will run out of it very soon. What happens then is going to be ugly and i don't think the uprampers here are prepared for it.

The US investor aspect of this is also interesting. 7 presentations in 12 months and no action is concerning.

Continues the pattern of over promising and under delivering. The reason i have not become involved, as i clearly stated several weeks ago, is that i don't trust management based on their track record. I trust them a lot less after yesterdays update.

I don't care what the SP did today, although it follows that the market have serious concerns about managements ability to make significant progress here and deliver on the opportunity.

I wish you guys the best of luck and hope this pans out well for those invested. This thing is not investible for me in its current form. I'll continue coverage as i am bullish on the sector.