buy at your peril

Half yearly report - convenient to forget

Material Uncertainty Regarding Continuation as a Going Concern

... We draw you attention to Note 1(e) in the half-year financial report which indicates that the consolidated entity has accumulated losses as at 31 December 2007 of $50,962,251 and has incurred a loss of $27,106,272 for the period ended 31 December 2007. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the ability of the company to continue as a going concern.

Basic and diluted loss per share $2.10 (2006 $0.56)

Will take a long time before a dividend is seen... at the current expenditure rate they will need a lot more money than the $2m held in cash.