Ann: Strategic Review, page-34

Re cost reduction - I dont think that that is necessarily the right conclusion re deferring expenditure to later quarters. By comparison to prior quarters there were a lot of legal costs which i expect would have now reduced.

The release stated ...

"Administration and corporate costs were considerably lower as the efficiencies of right sizing thebusiness were realised, along with prudent cost and cash flow management. While some ongoinglegacy issue investigation costs were incurred, these are now trending much lower than in previousquarters.'

I think that is pretty much what has happened here. Hopefully next quarter shows that costs have normalised at this level.

Agree with your sentiment about pipeline sales needing to show some conversion - both for the survival as a stand alone and to make fluttering their eyelids at any suitor more likely to get us a dance.