Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

Based on this quarterly, still a long term bottom of the drawer hold and IMO the basic premise of this company is something I will continue to support. There's a lot of germination and hopefully compostable bag take-up in the USA and Canadian markets, perhaps Coles too before this takes off.

Good to see the '100%' growth in MyEco. Fortunate Woolies was in the mix otherwise this would have been a very average report. $4.5m in the bank hopefully enough for them to hang in there without a CR whilst the germination and growth occurs. Management seem cautious about resin sales although perhaps some on the horizon in "LATAM, America and Europe' which will 'fuel growth'. Unfortunately they have lost sales in this space.

My weighted cost of SES is at 16.2c and frustrating that its still well off the mark for a return. Remains a speculative buy, in its favour only 565m shares outstanding, wont take much volume to get some movement and if both resin and bags start moving nicely into the USA etc we should get some action, we're at a fine line between going seriously forwards, or just poking along some more.

Need to firmly re-install my 'SES patience hat' and wait some more.