good weekend reading, page-10

TTH

Polartechnics Press Release 25/11/08

"Shareholders at the meeting approved the issue to Unisplendour of ordinary shares to be priced at up to 11.5 cents per share to raise $2 million, which with other private placements of up to 15% of the current issued shares will provide adequate capital to take the company through to profitability."

$2m @ $0.115 = 17.39m shares.

Polartechnics annual report states av number of shares for 2007/08 was 173m so Unisplendour dilution is 10% on it's own. Private placement may allow another 9m shares to be issued.

Don't get me wrong. This is a lousy market for a small cap bio-tech to raise funds.

Its' especially tough for one with the history of "almost" achieving that Polartechnics has earned in my years as a shareholder.

Who can forget the fabulous fun of the Board Civil War and attempted T/O that broke out last time we saw the shares distressed at around these levels.

So the current board have done a great job, but a forecast is a forecast and sales are revenue! I know which I'd rather have had over the last 10 years.

I'm still a believer but I have kinda heard it all before.

cheers and keep the faith!