Ann: Appendix 4C - quarterly, page-17

Overall I was hoping for much more revenue in the March quarter, but it was not to be. The Water Dept contract was a big influence on revenue over the previous couple of quarters, but the impact from that project now appears to be dwindling. I am sure the impact of the Chinese New Year had some impact on the results for this quarter, but I think it is more to do with the fact that they have not been able yet to secure any more big contracts. Hopefully this should happen in the future if their software is as good as they say.

One pleasing thing to me was the reduction in cash burn. The cash burn loss of $1.38 Mi was the lowest it has been since they have commenced operations in China. Last quarter there was a cash loss of $4 Mil.
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