Ann: Quarterly Update and Appendix 4C, page-77

Agree Moon walker…Tinjoy will be a goer. but NV will be delayed again….however the SP could be a bit restrained by the comment in the cash flow report of further cash requirements being necessary. ( it can be found at very end of section 8 in response to regulations requirements when a companies cash flow projections fall below a set quarter ratio.) They seem to infer it might be necessary ahead of the second board NASDAQ listing. Nevertheless if they do go to the well again, it will have to carry the usual “discount” for Instos. and SI’s. .