latest deal, page-5

cash flow is a killer ""Cash on hand at the end of the quarter was $1.35 million which will increase as a result of the
expected exercise of options prior to the end of the June 2005 quarter.""

Cash on hand $1.35 million
Receipts $416

Last quaters costs $1.713 million

Result is $53k left in the bank at the end of June OUCH.

So to get them through to the next quarter the need around another $1.4 million div x 20c options = 7 million shares.
Add this amount of shares to the register and it makes it a lot harder for the market cap to go up.

I looks like they are selling off assests as well.

""In addition the Company is able to sell its remaining listed investments to provide further working
capital to continue the pace of development.""

3 years to land a $150k deal that takes 5 months to complete, cashing options, selling assests, Red flags all over the place !