Ann: Shareholder Newsletter, page-175

Look guys, don't beat yourself up too much. I have been in the military (as a SNCO only, no procurement) and worked in Govt, now Private enterprise. I can tell you that the military are the most annoying bunch to do business with unless you have an existing product.

What happens is they put out a spec, you tender, meet the spec and then they come in and ask you to do better.

We heard this from AJX where they met the requirements for the cloth weight and the military came back and asked if they could do lighter cloth and cheaper......ahhhhhhhhh

I honestly think that all of AJX thought they had achieved the Military contracts, as they were the 'last man standing', the request for lighter cloth treatments dampened everything, including expectations of SH.

Without the expected Military contract that would provide steady income and anchor the sales, they went looking to sell to anyone and everyone, margins were varied and Cos started creeping up. The one thing that came out was the brilliant discovery that heat has too sides, heating and cooling, with the Alexicool taking the lead where FR potential used to be.

So now we have a coy, they are selling stuff (cmon, they have $X M sales) they have pruned off the tyre kickers, reduced CoDB avg and are waiting (as we are ) for the camouflaged elephant in the room to move.

I am sitting on a loss, but at this point I am sitting on it. I could have invested instead into A2 (wish I had), or QIN (thank god I didn't )

Not happy, not sad......just waiting

DYOR, don't listen to me, I know nothing.