in come the sellers , page-11

re: 400% - 4mths ? Hi Lekki, you could have rung me on the telephone to ask that question!! You do have my number.

Just because a company says something and gives an estimated timeframe does not mean it will happen within that timeframe.

The annual report was written in August and published and released on 29 October 2004.

The information contained there - in was based on current situations together with projections of financing and timeframes.

2 days before the release (one month after it was written) the share purchaes plan was extended and then a few weeks after that a placement was issued.

The fact is that the SPP had a poor result hence APG did not raise the capital it needed to spend on the feasability study.

If people put thier hand in thier pocket instead of winging APG would have had the $$$ and be within the timeframe "hoped for"!

APG in the last 5 months have spent over $1.0 on the feasability but that was all that was raised! Do you expect them to spend working capital on the plant...I think not!

So why do I say four months...well here are my reasons!

1) as indicated it will take 6 months

2) They have been doing it bit by bit by spending $1.0m , plus whatever they could do that does not cost much.

3) They cannot go much further without project capital

4) The market is of the opinion that there is a pending transaction that will pay for the upgrade and evertything else.

5) Some think the transaction will be complete and announced to market before the end of May.

6) As they have already completed say 1/3 of the upgrade then about 2/3 remain....let me do the maths for you....6 months = 100 or 100% or 6/6 therefore 1/3 complete must be 33.3% or 2/6 which leaves 66.6% or 4/6 which equals .....4 months!

7) The timeframe of APG over the years has been hindered mainly as a result of lack of finances. All copmpanies that have had negotions with APG has tried to screw APG because they knew APG was desperate for $$$$ not to mention a project. This translated to hard lengthy negotiations that allways started with APG giving away either part of the technology or controll of the company to the other party.

Of course APG has allways held out to retain the technology and controll and still have a deal. I have been involved with negotiations similar to APG and I know it can take 20 to 30 drafts before both agree.

8) Once APG announces the pending transaction and assuming it provides funding as required and given that together with Cornell Capit (working capital) APG can get on with business move as quickly as possible and not have to devote time to capital raising and begging.

9) From a commercial prospective APG will be seen in a different light and will attract quality offers and negotiations without the usual srewing tactics employed to snavell the company or technology cheap!


Lekki you have held for about 6 years so if it take 5 months or even 6 months I dont think it will matter too much.

As for eating my script well I am confident of the short term, medium term and long term prospects for the company and share price. I have loaded up for the three occasions and I will unload at each interval over the next three years.

Cheers