Ann: Market Update, page-20

From a long suffering ADN holder I'd be concerned at the moment holding here. My sister in law is invested in suv and think she will sell before the next raise, there are 2 quarters of cash left so raise is coming asap. That's their problem atm. Cash burn is crazy. Geo polymer precast hasn't earned them a dollar yet (isn't it trials not actual paid work)? , and highly doubt they will. It's not a straight forward process that's why university types get involved, if it was basic they'd just add a % to the batching plant and presto. SUV last boa was for 300 ton over three year. Kaolin grades and brightness are good but they can't grow a business with 100 ton a year sales that's just embarrassing. Ditching silica sands is a big loss. That was touted as easy money, which the company desperately needs otherwise it's CR after CR. No growth in the pipeline and no direction. gltah.