Ann: Webinar presentation, page-35

We are in a bear market where future earnings are pretty meaningless, only actual earnings count. So while it will go up I would not expect it to be huge. Management have had a terrible track record of not delivering so there will be a 'I want to see proof' attitude as well, so you will have to wait for FNTP to see real movement. Just take a look at something like the BIO tech sector in the US, over 20% of them are trading below cash value right now, the market values their businesses at less than the cash they hold. Ormat commands a high multiple only because they have earnings. Good news is we should see FNTP before the end of the year, then the company will start to be taken more seriously I would expect.