laughable as usual

the options prospectus places on show once again what a joke - what an absolute basket case this management team has devolved this company into...

this issue of some 58 odd million options, at $0.001 each, with an exercise price of $0.15 by 1 September 2011, will cost the company more to complete, than what will come in - $58,027.00 but expenses of $70,000.00

why?

because Harmony has already chosen and informed the company that it will not be taking-up it's entitlement to nearly 119 million of these options

now that is not what I would call a vote of confidence, particularly where it would have only cost them $119K to participate

obviously they couldn't find anyone else to sell their 119 million options to, for what, not even $0.002 ?? - now that is a hard market - illiquid is the term i think..

otherwise they have clearly formed a view, and no doubt relying upon just a little more information than is available to most punters, that these options will not be in the money come 1 September 2011


no, Harmony is fed-up and won't be burnt yet again by this forever cap-in-hand Board...

but the prospectus does allow us to discern that there has been a fundamental re-think within the minds of management towards our technology, but unfortunately again, it is all retro - just see section 5.2(b) on page 17 - and tell me if this Board hasn't taken the language for the development of our technologies back 5 years... - you would think they had only lodged a patent application yesterday:



'(b) Uncertainty of market acceptance

The Group plans to develop its technology for use in a range of military, law enforcement, counter-terrorism and commercial applications. It is not yet known whether the technology will be accepted in the market or the rate of any market acceptance. The degree of market acceptance will depend on a number of factors, including the receipt and timing of any regulatory approvals, the establishment and demonstration of the need, safety, efficacy and cost-effectiveness of the Groups technology and products, and the technologys advantages over existing technologies.

Even if they perform successfully in research and evaluation trials, it is also not yet known whether the Group will be able to fully develop or commercialise its technology and products.

The Company anticipates that its primary customers will be the allied military and law enforcement community particularly the United States. The Company cannot be certain that current levels of defence spending will be maintained or that the Company will win further contracts from potential customers.'



- incredible.... - they clearly have nothing positive to say about any actual commercialisation occuring in the here-and-now that is of any consequence - so the Board has opted to couch all commercialisation issues as though this technology were a nascent technology, just crawling out of the blue-prints phase...


yes - a brilliant technology, but totally wasted in the hands of this Board of geriatrics...


good luck