Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-43

You have forgotten there are assets, Karl should be dropped very soon, continuous income, for a start up the break even is almost there (it will be when they cut Karl). Remember, when they cut Karl they will be able to redeploy the money to somewhere else which should MAKE MONEY. In other words the effect of cutting Karls $1,000,000 wont be a $1,000,000 effect - it will probably be a $2,000,000 effect at least.

Dont be too down..... or depressed.... There is a product, a lot of clients, and remember - this type of business doesnt make money from day 1 or often year 5. Your summary doesnt depict reality. Cheer up !!!!! Buy some shares at 1.7 cents... !!!!