agm, page-9

simon

As I understand the company strategy that they plan in the long term to only be a produces of the gennex stacks. Others will make an the balance of plant and market the final product.

I think along the lines that to 100000 order will be for the gennex stacks. This puts the risk of the main manufacture and sales with others.

I believe that current Bluegen and Mchp units are really only demonstrators of the technology and that the negotiations are with the others designing their own market products.

Note that the company IP is only in the area of the genex stacks and not the BOP.

RB