Ann: Converting Note Agreement, page-10

I completely get the criticisms directed at the company based on the erosion of SH value over the years. I'm relatively new to this so I have not had to experience the angst many have past and present.

IMO the potential is in a pure trade from these levels where it can multi-bag on the "right" progress, not even going into full scale production. In many respects this reminds me of LPD’s business with lots of extra crap.

The two steps I think would give the SP a small boost from these levels are:

• Upgrade the fluid bed unit to get the test work runs to a production rate of 100kg an hour. Presumably this demonstrates the production potentials.
• Delivering the product to the 2 steel makers for evaluation.

Doing the above within a reasonable timeframe from here will give SHs/spectators some glimmer of hope. Given the current market sentiment it is paramount they get this happening sooner than later. Most importantly completing the two above steps will give some indication if this still has legs. If the product is good they may well surprise everyone by entering into a commercial contract with at least one of the steel makers alluded to in a recent announcement. For me personally, this is what I’m punting on and can see the SP moving significantly from these levels.

What the plant costs are, where funding will come from, will it produce profitable commercial quantities are all topics to be asked at a later point in time the progression. So I am not here to debate whether this will become a sustainable revenue generating company, I am merely offering a different take/perspective of at least a short term investment which could deliver big returns quickly (with lots of bad history attached with it).

All IMO and DYOR

Cheers
SB