Ann: Appendix 4E and Financial report, page-11

Could not agree more DB. I am one of those legacy shareholders to which you refer. And I still hold a sizeable chunk from those days. But based on recent announcements I've also added more this week. To date, PH and the team have been nothing other than efficient, professional, transparent and delivered. I have them earning in the order of 0.8-1.0cps this coming year (after tax) which based on today's close puts them on a PE of 6-7. Given growth prospects (which must be strong given $10m in the bank), this is a bargain. It may take a little time to emerge (and I don't think there are that many eyes on the stock at the moment) but I'll continue to accumulate at these prices. All IMO, DYOR etc