Ann: Monthly Update on KALiNA Energy Centre- Saddle Hills, page-81

Facts are they have not secured financing yet. We know they lost credits they were expecting to gain which was a substantial part of making the project financially viable. No one knows if anyone is even interested in the project. What we do know is that management suddenly stopped talking about Akira some time ago and have not mentioned any other names. So there is a high probability that Akira have passed on the project and management are now scrambling to try and find an alternate finance supply. The CR was to buy them time I would think so I am not expecting anything to be delivered this year at all. They did the same thing with the CR, every month it would be we will get to FNTP without a CR, then suddenly the CR with no warning. I expect finance to be exactly the same pattern from their playbook. Leopards do not change their spots.