Ann: Chairman's Address to Shareholders, page-6

Well, Sales of 500 sq metres at 30 Egyptian pounds translates to $AU 2.22 per sq metre- about $1100 total. Small beginnings indeed! Current daily production at 125 sq metres per day equates to a whopping $250 per day in product.

Ramy is claiming 1 million sq metres per year potential- that gives only $2.2 million in sales at best. ASSUME a 5 day week of 8 hours and 300 days per year, 2 sq metres of inner veneer per trunk- This will involve collecting from the farm, transporting to the factory, loading to the machine, then veneering, drying, trimming and packing (at 2 sq m per trunk say) around about 1650 trunks PER DAY. - (3300 veneers x 5 x 300 = 1,000,000)

Now think on that - for an 8 hour day 5 days a week you need to quality control, dry, and trim 200 trunks per hour. HOW will they get dried out??- as the trunks are 90% water. How many people will it take to grab and check and trim 410 sq metres of veneer every hour. That's one every 9 seconds??? Again how will that volume be dried??

All this for maximum sales at full capacity of $2 million. Still doesn't stack up- I'm sure the Captain will give his number crunch!