neptune marine services

Quarterly out and looks like this little company is moving forward on the world stage. Small number of shares on issue. Small mkt cap. Do the research guys.

I hold

Cobby

OPERATIONS REV IEW – QUARTER ENDED 30 SEPTEMBER 2 0 0 4
Financial
I am pleased to report that the Company generated a modest cashflow surplus for the quarter, as a
result of revenue from the Cullen Bay Marina project. The project generated revenues of $400,000
over 3 weeks, and cash receipts of $388,000 during the quarter. This allowed our $2 million cash
reserves to remain substantially unchanged from the previous quarter.
Sales and Marketing
More significantly, we have made major progress in our overseas marketing efforts, and expect to
enter into an agreement with a company in Denmark to use Neptune’s technology in that region. As
a result of meeting with major customers and potential partners in the region, we believe this
strategy will maximize our exposure to activities in Europe whilst protecting our intellectual property.
A recent visit with a WA Government delegation to the Abu Dhabi International Petroleum Exhibition
(ADIPEC) yielded strong interest from both potential partners and major end users of our
technology in the Gulf region.
On a marketing front we completed a Company brochure and interactive CDROM to showcase our
technology, and use as a primary sales tool. We also expect to complete a website redevelopment
in November to better generate leads from web searches, and better communicate with our
customers and shareholders with e-newsletters, and online customer data management.
At the same time, we have commenced searching for a Business Development Manager to boost
our efforts to advance the Australasian market for the use of our technology.
Technology
During the quarter Neptune signed a memorandum of understanding for the supply of engineering
support and development services with HBH Consultants. We believe these services will
supplement the depth of current technical resources in the Company, and provide greater flexibility
in securing a larger volume of work. HBH Consultants specialise in multidisciplinary projects for the
resources sector, and in industrial machine design. They work with industry leaders, both locally
and internationally. HBH's clients include Australian operations of major international companies
such as Alcoa, Rio Tinto and Millennium Chemicals, and Australian majors such as Iluka and WMC.
With the achievement of several major milestones well ahead of expectations, I believe Neptune is
in a sound position to execute its strategy of commercialising its Underwater Dry Weld Technology
on a global scale.
Andrew Harrison
Executive Director