Ann: Quarterly Activity Report & Appendix 4C, page-12

Agree seems very disappointing on the 1/4 on 1/4 result. Could be initial sales were relatively high based on initial orders / enthusiasm? Perhaps some carryover stock from the last quarter hindered the Dec 1/4. Anyway, I was expecting significant rise from last 1/4 - maybe 50%. At this stage I expect large % based gains which would inevitably decline in time to more modest growth. Still developing the market so not all bad. Plenty of cash to bridge to next product and expansion. However my SP expectation is modest now unless they improve a lot this next 1/4. Still a good buy for those looking to get in but those holding will have to wait a bit longer for bigger returns IMO.