forecasts, page-2

morning,

the 18.5 mil. is only important because the company has published it and reaffirmed it time over.

It's not about the number - it's about the credibility - in a nutshell.

As to the numbers themselves - if we get say just 10 million in the last quarter - that gives us a run rate of 40 million for 2017 cal. - I reckon we can add probably another 10 to 20 onto that by end of year - and a lot of that additional would be very high margin I believe.

So - how would that place us at end 2017? -------- say 60 mil. - well, for only a few years in sales - I would be ok with that.

That is pretty conservative I reckon because we haven't hit the traction yet - so, when we actually do that - I can see the sales graph going up steeply - this is why I am in AJX.

Back to the 18.5 mil.

My question is -- why set it in the first place?

Is it a bhag (big hairy .... goal) used as a mechanism by Nick to drive the team forward at a pace? --- Possibly.
Is it a target that is not set in concrete - so much so that we might make it - or we might not ---------- similar to a cash positive by 30 June thought - and that it is some sort of psychological device - to succeed - or even perhaps to fail -

or a combination of the two?

I was speaking with NC last night and basically I just listened for 99% of the conversation - I didn't want to extend the conversation because he sounded like crap - he has some URTI or similar and his voice is rough as guts - also, I had woken up and was worried that I wouldn't make a lot of sense.

Now - for those of us who have been in touch lately - we did NOT discuss what we have been talking about at this point - what we agreed was that NC will ring me on Saturday his time - and, hopefully he will be feeling better by then - if not - then, I will want to put it off a tad longer - because - we all know what it's like when we feel like crap and we are trying to discuss important matters.

So - I just let him talk - it was early morning there and I think he had just got up and was fixing breakie for the kids.

For a horrible moment I thought he may not have been to bed - but, he sounded better as the conversation went on - so, my guess is he was just up. And, of course - I would have been getting brighter by the minute as well - as I had been woken up.

From the conversation - and from what I know from other sources besides Nick - I withdraw my feeling that we will have a CR due to an event (at least, I withdraw the surety of it).

Nick is very strong on non dilution - as strong as ever - so, if he gets a deal where he requires cash to get it rolling - then it is more than possible that he will take his piece of paper to the bank and get a short term loan. That is assuming we need the cash - and, if it is very soon and the deal (s) are as big as I think - we will need some cash to get started (that's good news - not bad).
Which blows my theories about getting a raise to get stock out to the instos..

Did I get the feeling that there were deals in the wind --------- yes, I have not changed my mind on that one -- perhaps not quite as imminent as I was thinking - but, could be an 'any day' thing.

I strongly sensed that there were more than just one deal possible - and, I certainly sensed that we would be very happy to get them - I don't know how much detail will be allowed to be released when they break (and, lets face facts - deals are a when, not an if).

He did say that cash was fine and growing - but, I am a bit confused on what he was saying numbers wise - as one thing I am not good at at night time is numbers (don't ask me why - it just is).

The cash bit has never been a big issue for me as to the numbers themselves - only the credibility. AND of course - an explanation of the gap between expectation and reality.

And, I doubt if we will cover it at the weekend - but, I have always been confused about the cash positive or not business - why? - well, say we are growing cash atm - which I think we might be --------- that's lovely - but, we will have bills come in for the move ------ and we know roughly what was budgeted there - about 3 mil. from memory - so, as that cash flows out - if that puts a dent in the flow?? - does that count? - or do we only count 'normal business'?

There are a couple of thoughts that have come to mind after the talk - 1. I keep thinking - I have said many many times that NC works in a different time frame to most of us - at a guess he is about 2 months in front - turning around and waiting for the rest of us to catch up --------- I just wonder if these things he puts out - whether we should always add 8 weeks to - to align with his time frame? - Just a thought.

Also - I have said many times again - that Alexium is changing gears - and, I strongly believe that - but, with the steering wheel for a while being in the hands of young guns - do we get the odd gear crunch - and, not a completely smooth shift? - I suspect we do - and, I take comfort that in an email from NC a week or 2 back - he said words to the effect 'I am not going anywhere - don't worry about that'.
I am happy if he just puts his hand on the wheel occasionally.

I actually think that moving premises will be a really great thing for the company - because I think psychologically - it leaves behind the old - and brings in a new era - nothing like a change of location - particularly a change to a larger premises that is purpose built for us. I think it will assist with the gear change.

So - I write this because I thought it was fair to many here to say that we had spoken - but, again - note that discussions I have had with some of you - particularly the larger holders - we did not discuss those matters yet.

I also apologize for what may have appeared to be (someone described it as bizarre) postings in the last couple of weeks from me - but, honestly - I had to draw out some things without giving away how I knew what I knew - I did draw out what I wanted and thanks to all of you who got in touch.

have yet, another great exciting day

Pinto