Hey EveryoneI sold my shares at 2.6 cents. Too much downside...

Hey Everyone

I sold my shares at 2.6 cents. Too much downside risk at the moment. The net burn rate is too high.

Net Burn Rate = $1.35 million/quarter

Cash in Hand = $4.8 million

Therefore soon they will be doing another capital raising and dilute the shares further. And don't think Readrite revenues are going to support them in the short term, with marketing costs and high in-house manufacturing costs I would be suprised if Readrite is breakeven.

The volumes today clearly show that a substantial holder wants out. My recommendation would be for short term sell, and wait till the end of the year when TB progress is more clear.

I expect the share price to fall further before we see a recovery. Expect the share price to rise late 2009 or early 2010 in preparation for the TB product development. As always, DYOR