Ann: SOR Quarterly Update and Appendix 4C, page-65

A good, down-to-earth commentary.

That Honeywell does not even mention the AxV on their site is a valid cause for concern. Is it because they just haven't got around to updating the website yet? (Unlikely!). Or is it indicative of how little value they place on the Stealth collaboration, or on the AxV itself?

The Stealth website to which you have provided a link is also a bit of a worry. On first impression it comes across more like a stuffy academic paper (or an abandoned high school assignment) than an attempt to SELL the benefits of an exciting new innovation. The "LATEST NEWS AND ANNOUNCEMENTS" page initially shows only three entries, all with the same date, and more than two years old. What message does that convey to a research and purchasing officer of a potential client organisation? What it says to me is "abandoned project, gathering cobwebs".

So, is it in fact an abandoned project, with the directors still inhaling the air of a dream which ended two years ago? Or do they just need to hire some relatively inexpensive expertise in marketing and effective web design?

A signed contract to provide a major purchaser with a fleet of ASVs would make a HUGE difference to SOR, but given their size, the same contract would be little more than an administrative entry to Honeywell. Hence, an exclusive agreement to go world-wide with Honeywell might NOT be in our (or the company's) best interest.