have we hit the bottom, page-15

TT, i am aware cash burn was quicker than anticipated; no need to read the ann, i was part of the cap raising myself.

i am of the belief, that rightly or wrongly ESI are progressing faster to market than anticipated... thus cash burn faster than anticipated.

esi can raise further capital if req'd, see line about support from major shareholder bits... suggest that means they will fund if req's, if esi choose not to use fortrend that is

as for mgmt, the best thing con did was bring in kos.... esi i believe are close to changes on all fronts... new mgmt and deals same time

suggest con will go out on a high