Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

I think there is still some opportunity to develop. Payment terms for orders seems to be a problem which puts pressure on cashflow and the ability to build inventory. Looks like everything is made to order which delays turning orders into cash and combined with long payment terms on delivery not a good scenario. A cash injection will help. It also looks like more product development was done in the pallet space, not sure if that is a good investment as we already have products to sell in this category. The pallets also take a lot of material to build which is not a good thing based on the comment of needing to pay for labour and materials well before receipting payment for the product. With this in mind I would like to see some other products introduced to provide some diversity. Products that are smaller and use less material, like milk crates, hand carry shopping baskets, fold down produce crates, etc. Front end retailers are looking for green options as it is good promotion and good for business. Maybe these products could be made in the Australian factory and offset the lower than expected demand for the building products. I still think there is hope and a lot of upside, we just need to get a bit more mojo into the business.