Hi Gamera, I actually think they have signed a Memorandum of...

Hi Gamera, I actually think they have signed a Memorandum of Understanding with Invensys. If Mikoh had signed a contract with Invensys it means I could look out my office window and see pigs flying.

It's a shame because I would have liked to take part in the recent rights issue but when companies start making reference to the words "going concern" in their annual reports alarm bells are well and truly ringing.

I've made Peter Atherton aware of Vostech, formerly Vos Industries. The last rights issue just made by Mikoh was disturbingly similiar to the last one made by Vos and of course Vos went broke. Statements made by directors and chairmans of both companies at similiar periods in their history, as I said, are disturbing.

All of these companies make promises of great things to come and are always bullish on the prospects for their technology. Rarely, as is the case with most speculative companies, do any of these dreams come to fruition. However, when companies start warning shareholders about running out of funds and doubt as to whether they are able to continue as a going concern, you can be almost guaranteed that these warnings are the only element of an anual report that will ever come to fruition.

My wild guess, based on 10 years experience investing in these companies, is Mikoh has less than 6 months now to secure a commercially viable deal. If you spoke to Peter Atherton or Doug Halley I'd almost guarantee you they'd completely deny such a pessimistic standpoint. Equity is drying up for Mikoh, this maybe be the last meaningful rights issue that they had available.

Let's see a deal closed Dr Atherton. Not 10 new pilot programs, not 5 new avenues for the technology, not 3 new collaborations, ONE BLOODY DEAL. Get shareholders off your back by closing just ONE BLOODY DEAL. I'll bet my shareholding in Mikoh that you can't.