Ann: Quarterly Activities Report and Appendix 4C, page-10

I must say this was a most underwhelming 4C result and accompanying narrative.

Other than giving us a synopsis of media events and announcements over the last few months, there was no info re unit sales, production and/or inventory levels or insight as to how the anticipated next quarter costs of $4.75m will be funded (except by inference that we will bleed more cash). Q3 sales decline into the $600k area is of great concern.

Interesting that manufacturing costs for the quarter were so light. Are we holding sufficient inventory to meet demand (incl NHS)? Have we stopped the presses to conserve cash?

At first blush, there are not a lot of bullish observations visible to me. Hoping under further investigation will reveal further positives.