Ann: Quarterly Activities Report and Appendix 4C, page-11

The quarterly was forthcoming with new info about the progress on the pilot-spin to date. They have a pre-pilot spin which has not been completed. I think a small number of people are aware that commercialization is unlikely to happen until September/October and might see opportunities elsewhere. The update on CelluAir was also not overly comforting.

Also, the SP fluctuates by a few cents every couple of weeks since the patent application announcement. It is probably just a matter of time until someone takes a n interest and the price is pushed up to 12 cents. Then again... it might be depressed until we get the next positive announcement.