Kurt gave a good presentation. He clearly articulated the...

Kurt gave a good presentation. He clearly articulated the forward strategy and it does look sound. My main concern is the implementation and the hysteresis in generating revenue returns. He said that AR9 is a licensing organization and that is the main direction it needs to take. In so far as any acquisitions go they are looking for those that are already generating revenue like NC Protect.

The big risk here is how long it will take for revenue to come in from the marketing effort. We need more than the trickle revenue that has been coming in over the past years. It's easy to talk about % increases on small numbers but we need to focus on absolute financials. They may need to put out a few loss-leaders out there to cement themselves in the market. If they do another capital raise it better be a big one else it will be a waste of time and cancerous on the share price.

Don't know which way this one is going to go, at times I am tempted to sell out at a loss and salvage what I can. I will stick to my strategy of holding until the 4th quarter report - with the expectation that the strategy along with the marketing effort will generate a significant contract before then otherwise we will be heading down below 15c.