Ann: Appendix 4C - quarterly, page-6

We are obviously looking at different reports. I exitted after the last CR at a small loss after a few events came to light ... and glad I did exit after seeing this. Quite simply their margins do not seem to be high enough.. still burning more cash in production than what they are getting in receipots... well aware million sof dollars worth of product could be sitting on the shelves and their accounts receivable could be high but they will continue to burn cash. With the 800k grant and current run rate they should easily see it through this quarter and possibly some of the next but I would think another cap raising willl come aroun Nov/dec... theyt will not leave till january when people see the qtrly and see that a CR is imminent. At current share price I have set my sentiment to hold.