Ann: Appendix 4C - quarterly, page-10

quarterly seems to be a lagging indicator by about 90-180 days for Alexium. In terms of when they can say 'we have X amount in purchase order/receiveables etc.". What this says to me, is that if they say they did over 1.2 million confirmed in the pipeline, that will feed through this and next quarter's cash flow statement.

The only thing that could've worried me with Alexium is if they came out and had another 40k cash received in the cash flow.. That would've had me worried.

Based off this report, it's pretty easy to say with close to 100% confidence that the Jan-Marc 2016 quarter will have over 1 million cash received in the bank for the quarter.

From what I've seen from Alexium, it seems like about 3-6 months from contract first announced until commercial purchase orders begin then another 3-6 months until that cash flow starts hitting the 4c report.

So.... if someone is judging their buying/selling based off the 4c, their basing their decisions off announcements that were first talked about probably 9 months ago.