Ann: Agreement with Major Chinese Water Group, page-14

Presumably the mention of a placement in the request for a trading halt was an error as none has been announced.

It is unclear to me what this new announcement means. It says BHZQ has 30 contracts "on hand". What does this mean? Underway, signed or possible? Does Phoslock get to participate in every (new?) one, or do we have to negotiate involvement on each.

What is the basis for the prediction of a jump in sales from $5 million to $15 million next year? If we need $7-8 million to break even, that presumably makes us profitable. However, to determine what the profits will be we need information on the new cost structure given we are not just providing material as in the past.

We need a lot more information to know what share price is justified.

I am delighted as I have a large holding. I just do not know how to value the company based on this announcement.