re: down today is where it is going 3.5c ASX AnnouncementSummary...

re: down today is where it is going 3.5c ASX Announcement
Summary of Polartechnics Limited Half- Year Report

Sydney, Thursday 26 February 2004: Auditors review of Polartechnics
Limited (ASX: PLT) half- year report confirms significant sales revenue
growth. A$ 1,169,460 compared to A$ 124,159 during the same period last
year. A net loss of A$ 2,930,553 million was recorded, 28% less than last
year.
Polartechnics Limited Chairman, Dr. Colin Sutton said "The half- yearly
results are in line with expectations and reflect the company’s strong
underlying growth. The average monthly cash-burn rate has been reduced by
21% on the same period last year and the recent successful capital raising
has increased significantly our cash reserves - cash at the end of December,
was $11,796,294 million."
"As indicated in an earlier ASX announcement, the Board is particularly
pleased at the increase in revenue growth achieved through greater efforts in
sales and marketing," said Dr Sutton.