when not if, page-3

Mr H,

I'm interested as to what you term the end of "Q2". If that is calendar year then that is the end of TZ's financial year?

Unless other contracts are coming to fruition, TZ will be struggling cash flow wise to operate for another 4.5 months and they will not meet either the performance hurdles for management options or the very open expectations they have communicated to shareholders regarding the 2012 financial year performance.

Surely AP is looking at whether TZ can deliver based on their financial soundness - if you were the execs making the decision the cash flow reports and cash balance would be very concerning (pure accountanting viewpoint).