broker report, page-5

Purple- how can you be so sure what environment Neptune is going to be operating within in the next 12 months? Neptune may be a great company, but what we are going through is not a normal cyclical downturn. The only reason the stock market is as high as it is (and indeed Neptune as high as it is) is because of unprecedented stimulus packages and the bailout of major financial institutions by the world's central banks. Unfortunately, whilst this stimulus has driven the bull market we are experiencing today, it has sunk the world and in particular the US into deeper debt which it won't be able to service without raising taxes. Add this to the fact there is high, rising unemployment, consumers still aren't spending and interest rates can only go higher, and it is clear this crisis is far from over.

At the end of the day, Neptune will only perform as well as the general economic environment allows it to perform and there is still HUGE uncertainty of how the world economy is going to come out the other side of this crisis.